The Notice is intended to provide holders of Existing Notes with a summary and update about the Proposed Recapitalisation process (refer to the ASX announcement dated
A distinction is drawn between:
•an Eligible Noteholder - a holder of Existing Notes which is, or is acting on behalf of a beneficial owner of Existing Notes which is, a "U.S. person" who is a "qualified institutional buyer" as defined in Rule 144A of the Securities Act (US) or a person who is not a "U.S. person" as defined in Regulation S under the Securities Act (US). Eligible Noteholders can elect to receive their entitlement to restructuring consideration from the bare trustee or, after contacting the Company and providing evidence satisfactory to the Company of their holding and status as Eligible Noteholders, direct the bare trustee to sell it on their behalf; and
•an Ineligible Noteholder - a holder of Existing Notes that is not an Eligible Noteholder. Their entitlement to restructuring consideration, after contacting the Company and providing evidence satisfactory to the Company of their holding, will be sold by the bare trustee and the net proceeds remitted to them.
Only Eligible Noteholders need complete the Letter of Transmittal which accompanies the Notice. Ineligible Noteholders and those Existing Noteholders who elect for their entitlement to restructuring consideration to be sold on their behalf by the bare trustee should contact the Company for further information about the bare trustee's sale process by contacting
SOURCE Mirabela Nickel Limited (Administrators Appointed)
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