8th Feb 2016 08:51
LONDON (Alliance News) - Trinity Exploration & Production PLC shares fell on Monday after it said it agreed a further extension to the moratorium on repayments relating to its outstanding debt balance of USD13.0 million with its lender Citibank.
Trinity shares were down 17% to 2.93 pence per share on Monday morning.
It is no less than Trinity's 20th extension, which runs until February 19.
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.
By Joshua Warner; [email protected]; @JoshAlliance
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