Brief: TT International Says Celestial Palace To Continue Supporting Restructuring On Lower Loan Value

TT International

30/11/2023 17:45

Nov 30 (Reuters) - TT International Ltd  TINL.SI :
    * CELESTIAL PALACE PREPARED TO CONTINUE SUPPORTING
RESTRUCTURING
OF GROUP ON A LOWER LOAN QUANTUM
    * CELESTIAL PALACE EXPRESSED THAT LOAN QUANTUM SHOULD
NEVERTHELESS
BE HIGHER AMOUNT THAN CURRENT FINANCIAL POSITION OF TTI GROUP
    * REVISION TO LOAN QUANTUM OF CONVERTIBLE LOAN WILL
NECESSITATE AN
AMENDMENT TO TERMS OF NEW SCHEME
    * REMAINS IN DISCUSSIONS WITH CELESTIAL PALACE
    * EXPLORING ALL OPTIONS TO PROGRESS DEBT RESTRUCTURING OF
GROUP
    * WILL APPLY TO EXTEND LONG STOP DATE FOR IMPLEMENTATION OF
NEW
SCHEME, WHICH WILL EXPIRE ON 31 DECEMBER
    * CO WILL MAKE AN APPLICATION TO THE COURT FOR A SHORT
EXTENSION
OF EXISTING MORATORIUM
    * CELESTIAL PALACE AGREED TO EXTEND ORIGINAL REPAYMENT DATE
TO 31
DECEMBER 2023.

Source text for Eikon:  ID:nSN6vBSsR 
Further company coverage:  TINL.SI 

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