Brief: Promisia Healthcare Say Determined That Co Was In Breach Of One Of Two Banking Covenants For June 2021 Qtr

Promisia Healthcare

31/08/2021 08:43

Aug 31 (Reuters) - Promisia Healthcare Ltd  PHL.NZ :
    * DETERMINED THAT CO WAS IN BREACH OF ONE OF TWO BANKING
COVENANTS
FOR QUARTER ENDED 30 JUNE 2021
    * COVENANT RELATES TO REQUIREMENT FOR EBITDA/INTEREST COVER
TO BE
AT LEAST TWICE INTEREST COST
    * WAS COMPLIANT WITH THE COVENANT IN PREVIOUS QUARTER
    * ADVISED BANK OF NEW ZEALAND OF BREACH AND REQUESTED WAIVER
OF
COVENANT FOR JUNE QUARTER
    * REASONS FOR BREACH IN JUNE QUARTER INCLUDE HIGHER THAN
BUDGETED
LOSSES AT ALDWINS HOUSE, AMONG OTHERS

Further company coverage:  PHL.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))