ALPHARETTA, Ga. (PRWEB) March 12, 2018
Rolta LLC & Rolta Americas and their affiliate guarantors, including Rolta India Limited (the “Group”), and an ad hoc committee of holders of their US$300,000,000 8.875% Senior Notes Due 2019 and US$200,000,000 10.75% Senior Notes due 2018 have reached an agreement-in-principle to extend the milestones set forth in the Restructuring Support Agreement (the “RSA”) for soliciting their pre-packaged Chapter 11 plan to March 23, 2018, for providing a $20 million security deposit to March 30, 2018, for filing a pre-packaged Chapter 11 case on or before April 23, 2018 and for consummating the pre-packaged Chapter 11 case on or before July 23, 2018. A formal amendment to the RSA will follow. The RSA contains the material terms of the consensual restructuring to be implemented through a pre-packaged Chapter 11 filing that is expected to strengthen the Group’s capital structure and enable its day-to-day business operations to continue without disruption with no effect on the Group’s other creditors or shareholders.
About Rolta: Rolta is a leading provider of innovative IP-led IT solutions for many vertical segments, including Federal and State Governments, Utilities, Oil & Gas, Petrochemicals, Financial Services, Manufacturing, Retail, and Healthcare. Rolta is recognized for its extensive portfolio of solutions based on field-proven Rolta IP tailored for Indian Defence and Homeland Security. By uniquely combining its expertise in the IT, Engineering and Geospatial domains, Rolta develops State-of-the-Art Digital Solutions incorporating rich Rolta IP in the areas of Cloud, Mobility, IoT, BI and Big Data Analytics. Rolta is a multinational organization headquartered in India and the Company’s shares have been publicly traded for more than 25 years in India.
For additional information, please visit http://www.rolta.com, or contact:
President - International Operations
Tel: +1 (678) 942 5000
Executive Vice President
Tel: +1 (678) 942 5000
Disclaimer: This press release includes statements that are not historical in nature and that may be characterized as "forward- looking statements", including those related to future financial and operating results, benefits and synergies of the Company's brands and strategies, future opportunities and the growth of the market for open source solutions. You should be aware that Rolta's actual results could differ materially from those contained in the forward-looking statements, which are based on current expectations of Rolta management and are subject to a number of risks and uncertainties, including, but not limited to, Rolta's ability to integrate acquired operations and employees, Rolta's success in executing its strategies, Rolta's ability to take a competitive position in the industry, business conditions and the general economy, market opportunities, potential new business strategies, competitive factors, sales and marketing execution, shifts in technologies or market demand, and any other factors. The Company may make additional written and oral forward looking statements but do not undertake, and disclaim any obligation, to update them.