oceansix Future Paths Ltd. Announces Receipt of Court Decision Approving Its Debt Settlement Under Israeli Insolvency and Financial Rehabilitation Law
oceansix Future Paths (TSXV: OSIX) has received final court approval from the Tel Aviv District Court for its debt settlement request under Israeli Insolvency and Financial Rehabilitation Law. The approved settlement includes:
- Repayment of debts to creditors, excluding major shareholders (Sullam Holdings L.R. , Tedea Technological Development and Automation , and RAM.ON Finance GmbH)
- Cancellation of all existing company shares
- Conversion of major shareholders' debts into company equity
The company is expected to be delisted from the TSXV (pending acceptance), OTCQB, and Borse-Frankfurt Stock Exchange.
oceansix Future Paths (TSXV: OSIX) ha ricevuto l'approvazione finale del tribunale dal Tribunale Distrettuale di Tel Aviv per la sua richiesta di concordato sotto la Legge israeliana sull'Insovibilità e la Riabilitazione Finanziaria. L'accordo approvato include:
- Rimborso dei debiti ai creditori, escluse le principali azionisti (Sullam Holdings L.R., Tedea Sviluppo Tecnologico e Automazione, e RAM.ON Finance GmbH)
- Cancellazione di tutte le azioni aziendali esistenti
- Conversione dei debiti dei principali azionisti in capitale azionario dell'azienda
Si prevede che l'azienda sia sospesa dalla TSXV (in attesa di accettazione), OTCQB e Borsa di Francoforte.
oceansix Future Paths (TSXV: OSIX) ha recibido la aprobación final del tribunal del Tribunal de Distrito de Tel Aviv para su solicitud de acuerdo de deuda bajo la Ley israelí de Insolvencia y Rehabilitación Financiera. El acuerdo aprobado incluye:
- Reembolso de deudas a los acreedores, excluyendo a los accionistas mayoritarios (Sullam Holdings L.R., Tedea Desarrollo Tecnológico y Automatización, y RAM.ON Finance GmbH)
- Cancelación de todas las acciones existentes de la empresa
- Conversión de deudas de los accionistas mayoritarios en capital de la empresa
Se espera que la empresa sea excluida de la TSXV (pendiente de aceptación), OTCQB y la Bolsa de Frankfurt.
oceansix Future Paths (TSXV: OSIX)는 이스라엘 파산 및 재정 회복 법에 따라 부채 합의를 요청하는 데 대해 텔아비브 지방법원으로부터 최종 승인을 받았습니다. 승인된 합의에는 다음이 포함됩니다:
- 주요 주주(Sullam Holdings L.R., Tedea 기술 개발 및 자동화, RAM.ON Finance GmbH)를 제외한 채권자에게 부채 상환
- 현재 모든 회사 주식의 취소
- 주요 주주들의 부채를 회사 주식으로 전환
회사는 TSXV에서 상장 폐지될 것으로 예상됩니다 (수락 대기 중), OTCQB 및 프랑크푸르트 증권 거래소.
oceansix Future Paths (TSXV: OSIX) a reçu l'approbation finale du tribunal du Tribunal de district de Tel Aviv pour sa demande de règlement de dette en vertu de la Loi israélienne sur l'insolvabilité et la réhabilitation financière. Le règlement approuvé comprend :
- Remboursement des dettes aux créanciers, à l'exception des principaux actionnaires (Sullam Holdings L.R., Tedea Développement Technologique et Automatisation et RAM.ON Finance GmbH)
- Annulation de toutes les actions existantes de l'entreprise
- Conversion des dettes des principaux actionnaires en actions de l'entreprise
Il est prévu que l'entreprise soit démise de la cote de la TSXV (en attente d'acceptation), OTCQB et de la Bourse de Francfort.
oceansix Future Paths (TSXV: OSIX) hat die endgültige Gerichtsentscheidung des Bezirksgerichts Tel Aviv für seinen Schuldenbereinigungsantrag gemäß dem israelischen Insolvenz- und Finanzrehabilitationsrecht erhalten. Die genehmigte Vereinbarung umfasst:
- Rückzahlung der Schulden an Gläubiger, mit Ausnahme der Hauptaktionäre (Sullam Holdings L.R., Tedea Technologische Entwicklung und Automatisierung sowie RAM.ON Finance GmbH)
- Stornierung aller bestehenden Unternehmensanteile
- Umwandlung der Schulden der Hauptaktionäre in Unternehmenskapital
Es wird erwartet, dass das Unternehmen von der TSXV delistet wird (in Erwartung der Annahme), OTCQB und der Börse Frankfurt.
- Debt settlement plan received court approval
- Major shareholders' debt converted to equity, reducing overall debt burden
- All existing shares cancelled, resulting in complete shareholder value loss
- Imminent delisting from multiple exchanges (TSXV, OTCQB, Borse-Frankfurt)
- Company undergoing insolvency proceedings
Tel Aviv, Israel--(Newsfile Corp. - January 28, 2025) - oceansix Future Paths Ltd. (TSXV: OSIX) ("Oceansix" or the "Company"), announces that, further to its press releases of November 28, 2024 and December 20, 2024, its Request to Approve a Debt Settlement filed with the Tel Aviv District Court in Israel pursuant to the Israeli Insolvency and Financial Rehabilitation Law, 5778-2018 has received the final approving decision of the Court.
As previously announced, the terms of the Debt Settlement provide for the repayment of the Company's debts to its creditors, other than its major shareholders, Sullam Holdings L.R. Ltd., Tedea Technological Development and Automation Ltd., and RAM.ON Finance GmbH (collectively, the "Major Shareholders"). Under the Debt Settlement, all shares of the Company have been cancelled. Debts owed to the Company's Major Shareholders will not be repaid, but have been converted into equity of the Company. It is anticipated that the Company will shortly be delisted from the TSXV (subject to TSXV acceptance), OTCQB and the Borse-Frankfurt Stock Exchange.
About oceansix
For further information about oceansix, please contact:
Elad Hameiri, CEO | +34 673 435 571 oceansix future paths Ltd
Disclaimers
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange's policies) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238690
FAQ
What happens to existing OSIX shareholders after the debt settlement approval?
When will OSIX be delisted from the stock exchanges?
How does the debt settlement affect major shareholders of OSIX?
Which creditors will be repaid under the OSIX debt settlement plan?
