Brief: Santa Fe Group Says Proventus Has Alleged Santa Breached A Payment Obligation Under Original Facilities Agreement
24/08/2019 16:08
Aug 24 (Reuters) - Santa Fe Group A/S SFGR.CO :
* REG-ALLEGED BREACH OF LOAN COVENANTS - COMPANY
ANNOUNCEMENT NO
13/2019
* SANTA FE GROUP - CO & ITS FINANCING PARTNER, PROVENTUS
CAPITAL
PARTNERS, REACHED AN AGREEMENT WITH AMENDMENTS TO ORIGINAL
FACILITIES AGREEMENT
* SANTA FE GROUP-PROVENTUS HAS FURTHER ALLEGED THAT SANTA
HAS
BREACHED NUMBER OF ITS FINANCIAL COVENANTS,REPORTING & OTHER
OBLIGATIONS UNDER TERM SHEET
* SANTA FE GROUP - CO DISAGREES PROVENTUS' ALLEGATION AND IS
OF
VIEW THAT IT HAS MET ITS OBLIGATIONS ARISING UNDER FACILITIES
AGREEMENT AND TERM SHEET
* SAYS "COMPANY DOES NOT RECOGNISE EXISTENCE OF ANY BREACH"
* SANTA FE GROUP - PROVENTUS HAS IN A LETTER ALLEGED THAT
SANTA FE
GROUP A/S HAS BREACHED A PAYMENT OBLIGATION UNDER ORIGINAL
FACILITIES AGREEMENT
* SANTA FE-FORMAL NOTIFICATION FROM PROVENTUS IS INTERPRETED
BY CO
AS MATERIAL RISK TO ONGOING NEGOTIATIONS & LONGER FINANCING
AGREEMENT WITH PROVENTUS
Source text for Eikon: ID:nGNE2QqRhk
Further company coverage: SFGR.CO
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