RE: This was trading at 200 earlier in the year.26 Oct 2020 10:31
basically MTL has secured this new loan agreement saved the company.
As announced on 8 September 2020, it is a condition precedent to the Proposed Debt Restructuring, that the amendments to the Company's articles of association proposed pursuant to resolution 4 be approved. Accordingly, if resolution 4 is not passed at the AGM, the Proposed Debt Restructuring will not take place and the 2011 SHA will remain in place. In such circumstances, the Group would remain in default under its Senior Facility, would not have sufficient liquidity to fully repay the Senior Facility or the Mezzanine Debt and, as a result, admission of the Company's shares to AIM is likely to be cancelled, which will, inter alia, significantly reduce the liquidity and marketability of the Company's shares.