29th Feb 2016 10:12
LONDON (Alliance News) - Trinity Exploration & Production PLC on Monday said it has secured yet another extension to its moratorium on repayments due under its USD13.0 million facility with Citibank.
The new extension takes the moratorium to March 4, from February 26 previously, and is the 22nd extension Trinity has agreed.
The company said that it is continuing talks with the lender to secure a further extension of its credit facilities, and added that it expects for there to be continued support, particularly following the announcement of the sale of substantially all of its onshore assets for USD20.8 million.
Shares in the company were untraded on Monday, having last traded at 2.60 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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