9th Oct 2013 16:28
LONDON (Alliance News) - New World Resources PLC Wednesday said its subsidiary New World Resources NV has agreed that the financial covenants under its revolving credit facility will not be tested for the remaining term of the facility which expires on 7 February 2014.
The subsidiary will need to comply with a number of conditions which includes limitations on dividend payments and more stringent financial reporting obligations.
The EUR100 million facility is currently undrawn.
The stock closed up 2.6% at 140.00 pence Wednesday.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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