(Alliance News) - Matomy Media Group Ltd said on Wednesday it has received an additional letter from legal counsel to shareholders who provided letters of support in regards to repayment of bonds.
This letter confirmed that in support of the current negotiations among the company and various stakeholders, including the bondholders, "the aforementioned shareholders agree to further extend the period noted in the prior extensions up to September 30, 2019".
Earlier Wednesday, the firm said it had received several non-binding offers for its shares in Team Internet AG.
Shares in Matomy closed up 74% at 4.00 pence in London on Wednesday.
Media company Matomy said it has received offers for its 90% stake in technology company Team Internet, and a sale would likely enable the company to meet all of its obligations.
"The company is reviewing the terms and conditions of the offers and the board of directors will convene and decide on its course of action in the coming days," Matomy said.
Last week, Matomy said Rainmaker Investments had pulled out of discussions to acquire the Team Internet stake. Back in April, Matomy agreed to sell its entire holding in the company to Team Internet minority shareholder Rainmaker for USD36.0 million.