29th Apr 2016 08:48
LONDON (Alliance News) - Nighthawk Energy PLC on Friday said it has agreed a further extension on the waiver granted on its reserve-based lending facility.
Nighthawk said Commonwealth Bank of Australia has waived certain covenants on Nighthawk's reserve-based lending facility to May 16 from April 28 previously, to allow further time to agree to possible amendments to the covenant and debt repayment provisions in the facility.
Nighthawk said it expects new arrangements will have been agreed by the new deadline, though there is no guarantee an agreement will be reached.
Shares in Nighthawk were down 5.4% to 0.970 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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