Digital Times Nigeria
  • Home
  • Telecoms
    • Broadband
  • Business
    • Banking
    • Finance
  • Editorial
    • Opinion
    • Big Story
  • TechExtra
    • Fintech
    • Innovation
  • Interview
  • Media
    • Social
    • Broadcasting
Facebook X (Twitter) Instagram
Trending
  • Just In: MTN Apologises As Fibre Cut Cripples Services In Enugu, Benue States
  • Nigeria Must Claim Its Seat In Global AI Economy, Experts Warn At GITEX 2025
  • NITDA DG Calls For Pan-African AI Collaboration At GITEX Nigeria 2025
  • Zinox, KongaCares Partner To Unveil Groundbreaking “Computerize Nigeria” initiative At GITEX Nigeria
  • How Two Nigerian Students Won Airtel Africa Foundation Fellowship
  • Konga Unveils “All In All, Everything ×2 – Category Month” Shopping Campaign
  • Nigeria’s Fintech Growth Hinges On Regulator–Operator Partnership, Stakeholders Say
  • NCC Moves To Strengthen Cybersecurity Framework As Telecoms Face Growing Threats
Facebook X (Twitter) Instagram
Digital Times NigeriaDigital Times Nigeria
  • Home
  • Telecoms
    • Broadband
  • Business
    • Banking
    • Finance
  • Editorial
    • Opinion
    • Big Story
  • TechExtra
    • Fintech
    • Innovation
  • Interview
  • Media
    • Social
    • Broadcasting
Digital Times Nigeria
Home » Smile Telecoms Holdings Announces Restructuring Plan To Strengthen Operations
Telecoms

Smile Telecoms Holdings Announces Restructuring Plan To Strengthen Operations

Our REPORTERBy Our REPORTER10 February 2022No Comments2 Mins Read9 Views
Facebook Twitter Pinterest Telegram LinkedIn Tumblr WhatsApp Email
Smile
Share
Facebook Twitter LinkedIn Pinterest Telegram Email WhatsApp

 

Smile Telecoms Group has announced that it has launched a restructuring plan under Part 26A of the UK Companies Act 2006(the “Restructuring Plan”) on 15 December 2021, with the English court sanction hearing due to take place at the end of February.

A statement signed by Ms Nicolene van Zyl, Group Head, Corporate Communications and Marketing, stated that the recapitalisation to be implemented via the Restructuring Plan (the “Restructuring”) will strengthen and provide new funding to the business to allow Smile Telecoms Group to safeguard its operations and deliver its commercial objectives.

In addition to the $63.6 million injected into Smile Telecoms Holdings Limited by its Super Senior funder in 2020 and 2021, the Restructuring will provide up to $35.6 million of new money to fund the business in 2022.

The Group is targeting completion of the Restructuring as soon as possible, and in any event on or before 31 May 2022, and will continue working with key stakeholders to complete the Restructuring.

The statement added that the Company would like to thank all of its stakeholders for their patience and continued support as it continues to work towards effecting the Restructuring to strengthen and stabilise its business, secure countless jobs and provide a better outcome to all of its stakeholders than what would
be available to them in the relevant alternative to the Restructuring Plan.

The Company would also like to assure its stakeholders the Restructuring Plan will once implemented, strengthen the Group’s business, and it is business as usual for the Group. Arrangements with business-critical service providers and suppliers are not in any way affected by the Restructuring Plan or proposed Restructuring.

READ ALSO  MTN Nigeria To Sell 575m Ordinary Shares To The Public

 

#Operations #Restructuring Plan #Smile Telecoms Holdings
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleIoT Cybersecurity: Navigating Challenges And Seizing Opportunities – An Advisory Perspective
Next Article Danbatta Describes Mass Media As Strategic Partners To The NCC
Our REPORTER
  • Website

Related Posts

Just In: MTN Apologises As Fibre Cut Cripples Services In Enugu, Benue States

6 September 2025

NCC Moves To Strengthen Cybersecurity Framework As Telecoms Face Growing Threats

1 September 2025

MTN Strengthens Network Infrastructure In Northeast, Restores Services After Upgrade

25 August 2025

T2 Unveils Nigeria’s First Electronic KYC SIM Registration Web App

20 August 2025

MTN Group Restructures Executive Leadership

19 August 2025

Nigeria’s Telecoms Sector Back On Growth Path, Says ALTON Chairman

18 August 2025

Comments are closed.

Categories
About
About

Digital Times Nigeria (www.digitaltimesng.com) is an online technology publication of Digital Times Media Services.

Facebook X (Twitter) Instagram
Latest Posts

Just In: MTN Apologises As Fibre Cut Cripples Services In Enugu, Benue States

6 September 2025

Nigeria Must Claim Its Seat In Global AI Economy, Experts Warn At GITEX 2025

4 September 2025

NITDA DG Calls For Pan-African AI Collaboration At GITEX Nigeria 2025

3 September 2025
Popular Posts

Building Explainable AI (XAI) Dashboards For Non-Technical Stakeholders

2 May 2022

Building Ethical AI Starts With People: How Gabriel Ayodele Is Engineering Trust Through Mentorship

8 January 2024

Gabriel Tosin Ayodele: Leading AI-Powered Innovation In Web3

8 November 2022
© 2025 Digital Times NG.
  • Advert Rate
  • Terms of Use
  • Advertisement
  • Private Policy
  • Contact Us

Type above and press Enter to search. Press Esc to cancel.