Elanor Investors Group (ASX:ENN) announced a series of milestones aimed at resetting its business operations and stabilising its balance sheet.
The group confirmed it has executed documentation for a comprehensive $125 million recapitalisation with Rockworth Capital Partners.
The refinancing package is designed to facilitate the full repayment of existing secured finance facilities, redeem corporate notes, and inject much-needed working capital into the business.
Settlement of this deal is expected to conclude before the end of April, providing a critical foundation for the group’s future solvency.
Elanor is moving towards the finalisation of the Firmus Capital acquisition. To accommodate necessary regulatory approvals and final due diligence, the sunset date for this transaction has been extended to May 31.
The internal reset extends to leadership and governance, with the group nearing the appointment of a new CEO from a shortlist of candidates.
To bolster corporate oversight, Elanor is establishing a separate independent trustee board for its managed funds.
The board will be chaired by Giselle Collins, a veteran non-executive director with two decades of experience across the financial and property sectors.