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During the final quarter of 2024, Noteholders met to discuss delisting the various notes exposed to Bridge Taxi Finance. A unanimous vote was taken to delist, which is awaiting ratification by the JSE. The delisting will create a conducive environment for information flow which will be helpful during the restructuring process.
We anticipate that new structures will allow all Noteholders stronger decision-making rights which will in turn aid initiatives to improve cash collections and return cash to investors. At the end of the quarter, leadership of the Management Company and the Trustees decided to fully impair the subordinated note RED707.