RE: Kefi website Q&A today3 Jan 2024 07:04
Q..Questions regarding Ethiopian Government's debt and KEFI's warrants
Q. Will the Ethiopian Government's debt default have any effect on the banks lending to TKGM? - as this obviously includes the Government.
A: The project financing approval processes are in train and some formal steps approved within the syndicate since the matter you refer to. It is our understanding that the Lenders consider our long-negotiated and publicly reported protections adequately cater for such events. It is also our understanding that the matter you refer to only serves to reinforce the commitment of the Government and regional investors. Regulatory disclosure will ensue in due course.
Q. Can the company extend the life of the warrants that are about to expire? Or are they now about to be lost?
A: We consider that it is possible to create new warrants but not to vary terms of existing warrants.
Posted 03 January 2024