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10 Jul 2018 | 13:46

Avanti Communications extends deadline for $20m payment owed by Indonesia

Satellite provider Avanti Communications said a $20m payment due to the company by the government of Indonesia by the end of July had been delayed.

The change was due to administrative delays from the London Court of International Arbitration in the release of the award, Avanti said.

The company and the Indonesian government had agreed to extend the payment date to 14 August, to give the government time to complete its internal regulatory administration to enable payment to be made.

The government confirmed to Avanti that it intended to satisfy the payment in full, Avanti said.

At 1:46pm: (LON:AVN) Avanti Communications Group PLC share price was +0.26p at 5.55p

Story provided by StockMarketWire.com
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