Polygon Group Limited | Announcement
Monday 9 June 2025
Polygon Group Limited (PGL), the Guernsey-based independent investment holding company, has announced that, with approval from PGL’s Bondholders, it will implement a strategic divestment plan (Plan). The Plan establishes a stable platform for the business to progress over the medium to long term.
The Plan was approved at a meeting with Bondholders on Monday 9 June 2025. A total average of 96% of Bondholders voted in favour of the Plan.
As part of the Plan, PGL will defer and accrue its obligations to Bondholders for 18 months, enabling an orderly restructuring and realisation of PGL's assets over the medium term to continue to satisfy its obligations.
Following the Plan's approval, PGL will implement a new, transparent, and independent governance framework. Charles McHugh, Joanna Leese, and Nick Heys will form the Executive Board of PGL, with Ed Daubeney and Simon Livesey continuing as non-executive directors.
Charles McHugh, Chair of PGL, stated: “Today’s announcement marks a significant step forward for PGL as we enter a new chapter with a clear objective of returning capital to creditors. We thank all our key stakeholders for their overwhelming support in recent weeks. It is business as usual as we implement the Plan.”
PGL received advice on the Plan from a team at Interpath and Ferbrache & Farrell.