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IN BRIEF: Lamprell in talks after missing loan facility repayment

Mon, 27th Jun 2022 19:19

Lamprell PLC - United Arab Emirates-based provider of oil field services - Says it has not made initial milestone repayment of USD26.4 million under USD45 million UAE export credit agency backed revolving trade loan facility which was agreed in October 2021. Continues to work with lending banks and also Blofeld Investment Management, which holds 25% stake in Lamprell, in connection with a extension to the payment date. "The group also continues to engage with Blofeld regarding an interim funding solution or bridge financing in connection with a possible offer to acquire the entire issued and to be issued share capital of Lamprell," it says.

Current stock price: 5.94 pence, up 2.4% on Monday

12-month change: down 91%

By Lucy Heming; lucyheming@alliancenews.com

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