Nytex Energy Holdings may restructure series A convertible preferreds

Board's options to include restructuring of $756,000 unpaid dividends

By Toni Weeks

San Diego, June 1 - Nytex Energy Holdings, Inc. said that its board of directors is considering restructuring the company's series A convertible preferred stock, including about $746,000 of unpaid dividends.

According to a press release, the board is mulling over restructuring options in order to potentially strengthen Nytex's balance sheet, provide greater operating and financing flexibility and better position the company to take advantage of future business opportunities.

Nytex also said that no decision has been made to engage in any transactions as a result of the board's exploration of a restructuring.

The Dallas-based energy holding company is the parent company to Nytex Petroleum, Inc. and Petro Staffing Group, LLC.

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