Paperlinx says hybrid buyout is a watershed moment

A challenge by hybrid holders to the buyout plan is thwarting attempts to move on after large losses, managing director Price says.

Paperlinx Ltd says its proposal to buy its hybrid securities and offer investors in the hybrids a majority equity stake in the company will underpin a restructuring that can restore confidence in the embattled paper merchant.

“It’s a watershed moment for the company if we are able to acquire the hybrid securities as it will allow Paperlinx to move on after a number of disastrous years,” Paperlinx managing director Andrew Price told DataRoom.

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