Frigoglass announces the resignation of Messrs. Ioannis Androutsopoulos, Doros Constantinou and Vassileios Fourlis as members of the board of directors.
The company also announced the appointment of Messrs. Jeremy Jensen, Iordanis Aivazis and Stephen Graham Bentley as independent, non-executive members of the Board of Directors to replace the resigning members with effect as of the Effective Date.
The Board of Directors will constitute itself into a body on the Effective Date. The appointment of the new members has been made for the remainder of the Board’s term and will be announced to and affirmed at the next General Meeting of the shareholders that will be convened in due course. Messrs. Ioannis Androutsopoulos and Doros Constantinou will remain members of the audit committee until the next General Meeting of shareholders.
Pursuant to the terms of the Group’s capital and debt restructuring (the “Restructuring”), Mr. Jeremy Jensen was selected by the Company as independent non-executive nominee following consultation between the Company and the banking institutions participating as lenders in the Restructuring.
Messrs. Iordanis Aivazis and Stephen Graham Bentley were selected by the Company as independent non-executive nominees after a consultation process between the Company and the noteholders who have elected to participate in the first lien new money option, pursuant to the terms of the Restructuring.