21st Jun 2021 20:12
Zoltav Resources Inc - Russia-focused oil and gas explorer and producer - Says it has received an extension from ARA Capital Holdings to repay loan to September 30 from March 31. In addition, ARA Capital increases facility to USD19.0 million from USD9.0 million. It has further been agreed that should the loan not be repaid by September 30 or be subject to a further extension by mutual agreement, ARA Capital will be entitled to request that the loan be converted into new ordinary shares in the company at the lower price of 27 pence per share.
Current stock price: 27.00 pence
Year-to-date change: down 27%
By Arvind Bhunjun; [email protected]
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