RE: FCA/AIM Regulation13 May 2022 12:22
Panda, as per the RNS, it was a non-binding agreement, so in reality, barely worth the ink
The company is currently in discussion with Atlas regarding a legally binding non-conversion agreement to allow the finalisation of the legal documentation process for the refinancing of the outstanding bonds. Atlas has in the meantime given non legally binding verbal assurance of no further conversions.
However, on a further reading of the above extract, it implies that unless ATLAS agree to a binding non-conversion agreement, then refinancing wont happen
- and why should they agree to such an agreement while PIs are, in effect, giving them good money