**Disclaimer : I am vested with $127,000 of Hyflux 6% CPS, my views and opinions expressed here might be biased to some extent , please do your own due diligence when acting or using the info as presented below.
Finally, Hyflux unveiled the so called Scheme of Arrangement under the court protection restructuring plan on 16 Feb which affecting more than 34,000 (mostly retail investors) registered holders.
Under its long-awaited restructuring plan, filed with the High Court yesterday, unsecured creditors who are not holders of perpetual securities and preference shares will receive 27 per cent of shares, and a total cash distribution of $232 million.
This means that for every $1,000 invested, a holder of Hyflux’s perpetual securities and preference shares will recover just $106.54, or an implied return rate of 10.7 per cent - from $30.15 in cash and $76.39 of implied value in Hyflux shares.
For medium-term noteholders, who are of...