8th Jun 2015 16:42
LONDON (Alliance News) - Maple Energy PLC Monday said its shares will be cancelled from trading on London's AIM on Tuesday morning.
The shares are being cancelled as they have been suspended from trading for six months.
"As announced on 8 December 2014, the company's shares were suspended from trading on AIM pending further clarification and the outcome of negotiations with the senior lenders," Maple Energy said.
"On 22 December 2014, the company announced that it had entered into a term sheet with the senior lenders to the company's ethanol business, Maple Etanol S.R.L and Maple Biocombustibles S.R.L in respect of the existing senior secured loans provided to the Ethanol Companies by the senior lenders," the company said.
"The term sheet defined the steps and actions to be taken in order to repay the outstanding balance of the ethanol Loans and the company continues to work with the senior lenders in accordance with the term sheet," the company added.
By Samuel Agini; [email protected]; @samuelagini
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