Sygnus Credit Investments is planning to extend the maturity dates of its Class C and D preference shares to December 28, while lowering the dividend rates to 9.85% and 7.50%.
The move, aimed at simplifying operations and cutting costs, is expected to generate annual savings of approximately $10.4 million and US$83,900 dollars.
Reports indicate that the company will meet with its preference shareholders on August 26, seeking approval for a three-year extension to the original maturity date of December 22, 2025.
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