No. 7/2018 INSOLVENCY Cap. 6:07 (3) The meeting contemplated in this section may be adjourned from time to time, as necessary or expedient, until a decision regarding the company's future has been taken in accordance with sections 144 and 145. 144 Consideration of corporate rescue plan (l) At a meeting convened in terms of section 143, the corporate rescue practitioner must(a) introduce the proposed corporate rescue plan for consideration by the creditors and, if applicable, by the shareholders; and (b) inform the meeting whether the corporate rescue practitioner continues to believe that there is a reasonable prospect of the company being rescued; and (c) provide an opportunity for the employees' representatives to address the meeting; and (d) invite discussion, and entertain and conduct a vote, on any motions to(i) amend the proposed plan, in any manner moved and seconded by holders of creditors' voting interests, and satisfactory to the corporate rescue practitioner; or (ii) direct the corporate rescue practitioner to adjourn the meeting in order to revise the plan for further consideration; and (e) call for a vote for preliminary approval of the proposed plan, as amended if applicable, unless the meeting has first been adjourned in accordance with paragraph (d)(ii). (2) In a vote called in terms of subsection ( l)(e), the proposed corporate rescue plan will be approved on a preliminary basis if(a) it was supported by the holders of more than 75% of the creditors' voting interests that were voted; and (b) the votes in support of the proposed plan included at least 50% of the independent creditors' voting interests, if any, that were voted. (3) If a proposed corporate rescue plan(a) is not approved on a preliminary basis, as contemplated in subsection (2), the plan is rejected, and may be considered further only in terms of section 145; or (b) does not alter the rights of the holders of any class of the company's securities, approval of that plan on a preliminary basis in terms of subsection (2) constitutes also the final adoption of that plan, subject to satisfaction of any conditions on which that plan is contingent; or (c) does alter the rights of any class of holders of the company's securities(i) the corporate rescue practitioner must immediately hold a meeting of holders of the class, or classes of securities whose rights would be altered by the plan, and call for a vote by them to approve the adoption of the proposed corporate rescue plan; and (ii) if, in a vote contemplated in subparagraph (i), a majority of the voting rights that were exercisedA. support adoption of the plan, it will have been finally adopted, subject only to satisfaction of any conditions on which it is contingent; or B. oppose adoption of the plan, the plan is rejected, and may be considered further only in terms of section 144. 304