SBB Capital to convene meeting to OK changes for 6.62% preference shareholders

By Jennifer Chiou

New York, July 26 - SBB Capital Corp. said it is seeking approval from holders of its $200 million of 6.62% non-cumulative guaranteed preference shares guaranteed by Southern Bank Bhd. to amendments to the trust deed.

The company said it will hold a shareholder meeting on Aug. 10 in Singapore to approve the transfer of all rights and obligations under the trust deed for the shares to Bumiputra - Commerce Bank Bhd. from Kuala Lumpur-based Southern Bank.

Shareholders will also vote to allow SBB to become a wholly owned subsidiary of Bumiputra.

Those who vote in favor of the amendments will receive $0.50 per $1,000 of preference shares.

The Bank of New York is the trustee.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.