Share Prices & Company Research

Market News

01 Apr 2019 | 08:03

Metals Exploration gets standstill on debt repayments from lenders

Metals Exploration said its lenders HSBC and BNP Paribas and major shareholders MTL Luxembourg SARL and Runruno Holdings had entered into a standstill agreement regarding its borrowings.

Under the agreement, the company was relieved of making both principal and interest payments due in relation to its Runruno facility agreement and its mezzanine debt facilities.

The standstill period was to apply until 11.59pm Hong Kong time on 2 May 2019.

Under the standstill, the company would have the right to request a further extension to the standstill period should it consider this necessary.

Its purpose was to allow the company and all its lenders time to evaluate, and consider possible solutions to Metals Exploration's current financial position.

At 8:03am: (LON:MTL) Metals Exploration PLC share price was +0.3p at 1.15p

Story provided by
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.