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

New US alliance to promote postal package delivery service

Textiles | On 15th Aug 2018

New US alliance to promote postal package delivery service

A group of US retailing, e-commerce and logistics firms recently...

Courtesy: Industriall Union

Apparel/Garments | On 15th Aug 2018

IndustriALL-Esprit agreement to improve workers' rights

IndustriALL Global Union recently signed a global framework agreement ...

Indian minister orders fresh consultations on e-com policy

Textiles | On 15th Aug 2018

Indian minister orders fresh consultations on e-com policy

Indian commerce and industry minister Suresh Prabhu has asked for...

Interviews View All

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Top executives
Retailers

Weak rupee breeds inflation

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Deepprakash Agrawal

Radhey Weaves is a Surat-based manufacturer of brocade fabrics. MD...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

Kai Poehler
Voith Paper GmbH & Co. KG

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

Johan Berlin
Investkonsult Sweden AB

Investkonsult Sweden AB are consultants in the nonwoven and absorbent...

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant & Nandita are known for being inspired by...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

Leave your Comments


August 2018

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

news category


Related Categories:

Advanced Search