4th Sep 2020 14:36
Zoltav Resources Inc - Russia-focused oil and gas exploration and production company - Extends final repayment date of loan owed to ARA Capital Holdings Ltd to December 31. Zoltav signed the USD9.0 million loan in July. ARA is the parent company of ARA Capital Ltd - both entities combined own 44% of the issued share capital of Zoltav. The initial repayment date was August 15.
Zoltav also noted it is still in talks with a number of prospective providers of project finance for developing East Bortovoy. "In the event the company takes a positive final investment decision on this project in due course, it is currently envisaged that the loan would be restructured in order to facilitate any required equity contribution to the project or a part thereof," Zoltav added.
Current share price: 35.00 pence
Year-to-date change: down 10%
By Paul McGowan; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
ZOL.L