iDNA Genomics bond trustee resigns, replacement not yet appointed
The trustee of iDNA Genomics Public Ltd's corporate bonds has stepped down, and the company says it has not yet completed the process of appointing a successor.
Nicosia, Cyprus. iDNA Genomics Public Ltd, a holding company listed in Cyprus, disclosed on Thursday via the Cyprus Stock Exchange (CSE) that the trustee for its corporate bonds has resigned.
Bonds affected
The resignation relates to the bonds carrying the international securities identification number CY0240422119 and the trading code iDNAB28.
Basis and timing of the departure
According to the announcement, the trustee left the role under the provisions of the Trust Deed dated January 18, 2023. The resignation took effect once the notice period laid down in that agreement had ended.
Appointment of a successor
The announcement noted that, under the Trust Deed, only the company has the authority to name a replacement. It said that, despite the firm’s efforts so far, the process of appointing a new trustee has not been finalised.
The company stated that it is still working to identify a suitable entity to take over the trustee duties. It added that bondholders are being kept informed while it works to complete the appointment.
Further updates
The company said it will issue another announcement as soon as there is a significant development on the matter.
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