Metals Exploration PLC Banking Update (1375Z)
29 August 2018 - 7:37PM
UK Regulatory
TIDMMTL
RNS Number : 1375Z
Metals Exploration PLC
29 August 2018
29 August 2018
METALS EXPLORATION PLC
Metals Exploration plc (AIM: MTL) ("Metals Exploration" or the
"Company"), the natural resources exploration and development
company with assets in the Pacific Rim region.
Banking Update
As previously announced, the Company received consent from its
senior lenders (the Hong Kong & Shanghai Banking Corporation
Limited and BNP Paribas) to a waiver request to defer the December
2017, March 2018 and June 2018 capital payments totalling US 20.25
million until 31 August 2018.
The Company confirms that it will not make the capital payment
due on 31 August 2018 and it continues to work with its senior
lenders and external financial institutions, exploring refinancing
opportunities. Application has been made to the senior lenders for
a further waiver.
The Company will meet its interest obligation to the senior
lenders on 30 August amounting to US $430k.
Further announcements on refinancing will be made in due
course.
For further information please visit or contact
www.metalsexploration.com
Ian R. Holzberger (Executive Chairman) +63 (0) 9189 795 992
+61 (0) 418 886 165
Liam A. Ruddy (Company Secretary) +63 (0) 918 979 2931
+44 (0) 7911 719 960
Andrew Rodgers (Chief Financial Officer) +61 412 429 856
Nominated Adviser and Broker: CANACCORD GENUITY LIMITED
Martin Davison, James Asensio +44 (0) 207 523 4689
Public Relations: TAVISTOCK
Barnaby Hayward, Jos Simson +44 (0) 207 920 3150
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contact rns@lseg.com or visit www.rns.com.
END
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