Home / Knowledge / News / Textiles / Gamma Holdings to convert bank debt into preference shares
Gamma Holdings to convert bank debt into preference shares
31
Jul '09
After the Extraordinary General Meeting of Shareholders of Gamma Holding N.V. held on 30 July 2009, the Supervisory Board appointed Mr J.H.L. (Jan) Albers as chairman of the Executive Board and CEO of Gamma Holding. Mr Albers succeeds Mr Veninga in this position.

Jan Albers (57 years of age) joined Royal Philips Electronics in 1980, holding various management positions, primarily abroad. During the period 1998 - 2003 he worked for the global technology group GEA AG in Germany, from 2000 as a member of the Executive Board. In his most recent positions Mr Albers has been a member of the Supervisory Board of Vanderlande Industries B.V., chairman of the Royal Dutch Hockey Confederation and chairman of the Supervisory Board of UVA Holding B.V. and Helvoet Holding N.V., among others.

At the same meeting a resolution was passed to alter the articles of association of Gamma Holding, and the Executive Board was designated as the body which is authorised to grant to its syndicate of banks the right to convert a portion of the financing amounting to EUR 30 million into newly issued 12% cumulative preference shares in Gamma Holding N.V.

The dividend on the cumulative preference shares is 12% of the amount paid on those shares. In this way the syndicate of banks can jointly obtain 50.1% of the voting rights in the increased issued share capital of Gamma Holding.

The granting of this conversion right is an important condition for the extension of the term of the existing financing of Gamma Holding to mid-July 2011.

Gamma Holding N.V.


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Top executives
Textile & apparel bodies

The decision is transformational

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search