Here is what was on the 13th of March RNS with regards to what they "anticipate" by end of March (i.e. today):
Afren also issues the following trading statement and operations update, in advance of the Group's 2014 full year results which are scheduled for release by the end of March 2015
Afren has reached a conditional agreement with noteholders representing approximately 42% of the outstanding principal amount due under its 2016 Notes, 2019 Notes and 2020 Notes (the "Ad Hoc Committee") for the provision of US$200 million in net interim funding in the form of a super senior private placement notes ("PPN"), which are expected to be issued by the end of March 2015 (the "Interim Funding").
The issue of the PPN is subject to the satisfaction (or waiver) of a number of conditions precedent, including the appointment of a new CEO, receipt of the consent of the remaining lenders under the Ebok Facility to the terms of the Recapitalisation and the amendment of the terms of the 2016 Notes and the 2019 Notes (by way of a consent solicitation process to be launched shortly) to increase certain thresholds under such Notes to permit the issue of the PPN.
It is proposed that the Debt-for-Equity Swap and the issue of the New Senior Notes, the New 2019 Notes and New 2020 Notes will be implemented by way of a scheme of arrangement between the Company and the Noteholders in accordance with Part 26 of the Companies Act 2006. It is anticipated that the PPN will be issued before the end of March 2015 and the Recapitalisation will be completed by the end of June 2015.
.. Am I right in saying it was previously announced that a new CEO would be announced by the end of March? I remember another poster quoting this but I can't specifically remember seeing it myself via official announcements.
An after hours RNS would certainly be nice and it's very like Afren to leave everything to the last minute!
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