18th Jun 2015 10:22
LONDON (Alliance News) - Trinity Exploration & Production PLC Thursday said it has secured an extension with its lender for repayments related to Trinity's outstanding debt balance.
Trinity currently has USD13 million worth of outstanding debt and had agreed to a moratorium, or suspension, of repayments until Monday, but this has now been extended until the end of June by the lender Citibank, it said.
In April, the company launched a strategic review which could lead to the potential sale of the company, a merger or the sale of the company's existing assets, which is continuing.
Trinity shares were down 3.8% to 15.75 pence per share Thursday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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