MHP: WTI Trading Limited Announces Amendments to Lock-up Arrangements
OREANDA-NEWS. April 21, 2011. The Company has been informed by WTI Trading Limited that it has agreed to certain amendments to the lock-up arrangements it entered into with respect to its interest in shares in MHP
Following the restructuring of the lock-up arrangement:
A portion of the WTI's ordinary shares in MHP will be released from the lock-up arrangement and pledged to Morgan Stanley as security for the Financing Transaction, with the remainder remaining subject to the arrangements entered into in connection with the sale in December 2010
In addition, pursuant to the terms of the Financing Transaction, 50.1% of the total outstanding issued capital of the Company will be subject to lock-up arrangements, subject to customary exceptions or with the written consent of Morgan Stanley, until the maturity of the Financing Transaction, which is anticipated to be in April 2014, subject to customary early termination provisions.
No securities are being offered for sale in connection with these arrangements at this time
WTI Trading Limited, a limited liability company organised under the laws of
The lock-up arrangements entered into with MHP
MHP is one of the leading agro-industrial companies in
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