On 30 August 2019, Deloitte, as administrator of Axsesstoday, held the second meeting of creditors at which secured and unsecured creditors voted on the proposed acquisition of the business by Cerberus.
The meeting was successfully completed, with creditors overwhelmingly voting in favour of the transaction. This positive outcome is a significant milestone towards the completion of the proposed acquisition which is targeted to be completed by 13 September. We believe that creditors' approval of the transaction was the most significant step in the process and all remaining conditions are viewed as more administrative in nature.
As a reminder, concurrently with the completion of the acquisition, the 7.50% notes due June 2021 and the BBSW+6.50% notes due October 2021 will be repaid at their face value, together with all accrued interest.