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Pin to quick picksMetals Exploration Regulatory News (MTL)

Share Price Information for Metals Exploration (MTL)

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Funding and Banking Update

28 Jun 2019 15:11

RNS Number : 8853D
Metals Exploration PLC
28 June 2019
 

METALS EXPLORATION PLC

Metals Exploration plc (AIM: MTL) ("Metals Exploration" or the "Company"), the natural resources exploration and development company with assets in the Pacific Rim region.

Funding and Banking Update

Further to the Company's announcement dated 3 June 2019, Metals Exploration confirms that its lenders, HSBC and BNP Paribas (the "Senior Lenders") and its major shareholders, MTL Luxembourg SARL and Runruno Holdings Ltd, as holders of its mezzanine debt (the "Mezzanine Debt Facilities") have renewed a Standstill Agreement (the "Standstill Agreement") for a further month until 31 July 2019.

Under the Standstill Agreement the Company is relieved of making both principal and interest payments due in relation to its Runruno Facility Agreement (the "Senior Facility") and the Mezzanine Debt Facilities.

The purpose of the Standstill Agreement is to allow the Company and all its lenders time to evaluate, and consider possible solutions to, Metals Exploration's current financial position.

A further announcement will be made in due course.

This Announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR"). Upon the publication of this Announcement, this inside information is now considered to be in the public domain.

For further information please visit or contact www.metalsexploration.com

Darren Bowden

Chief Executive Officer

+63 908 8500 051

Michael Langoulant

Interim Chief Financial Officer

+44 (0)7899 249990

 

Nominated & Financial Adviser & Broker:

STRAND HANSON LIMITED

James Spinney, James Dance, Eric Allan

+44 (0) 207 409 3494

Public Relations:

TAVISTOCK

Jos Simson, Barnaby Hayward

+44 (0)207 920 3150

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
UPDLLFISRTITFIA
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27th Sep 20237:00 amRNSInterim Results
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14th Sep 20227:00 amRNSInterim Results
29th Jul 20228:56 amRNSReduction of Capital Effective
21st Jul 20227:00 amRNSUpdate on Reduction of Capital
20th Jul 20227:00 amRNSQuarterly Update to 30 June 2022
17th Jun 20223:26 pmRNSResult of AGM
16th May 20227:01 amRNSProposed Capital Reorganisation & Notice of AGM
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25th Apr 20227:00 amRNSQuarterly update to 31 March 2022
14th Feb 20227:00 amRNSUpdated Mineral Resource and Ore Reserve Estimate
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1st Sep 20217:00 amRNSDirectorate Changes
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1st Jul 20214:51 pmRNSHolding(s) in Company
30th Jun 20214:44 pmRNSResult of AGM
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7th Jun 202112:46 pmRNSPosting of Annual Report and Notice of AGM
25th May 20217:00 amRNSInvestor Presentation
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17th May 20212:00 pmRNSPrice Monitoring Extension
22nd Apr 20217:00 amRNSAppointment of Non-Executive Directors

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