AFI Development Plc (AFID.L) announced the expected effects of the proposed debt restructuring of its parent company, Africa-Israel Investments Ltd., on the equity holdings in the Company.
Under the proposed settlement, the part of the debt expected to be converted into AFI Development's equity amounts to 92,720,923 shares, representing about 17.7% of its equity capital. In order to facilitate this part of the Settlement, Africa-Israel intends to convert a corresponding amount of its shares into GDRs.
Following the completion of the proposed Settlement, Africa-Israel is expected to remain AFI Development's majority shareholder with about 54% of the company's shares, the company added.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.