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UPDATE 1-Allen-Vanguard says lenders agree to defer repayment

Thu Jul 2, 2009 11:06am EDT

* Says lenders agree to defer repayment of $4.8 mln

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* Says payment deferred to Sept. 30

* Says going-private talks have advanced

July 2 (Reuters) - Security equipment maker Allen-Vanguard Corp VRS.TO reached an agreement with its lenders to defer the repayment of $4.8 million in quarterly principal.

The repayment has now been deferred to Sept. 30 from July 2.

The company also said discussions with an undisclosed U.S. investor, regarding a going-private deal, have advanced to a point where it may shortly conclude definitive terms.

Shares of the company were trading up 4 percent at C$0.130 on the Toronto Stock Exchange. (Reporting by Arundhati Ramanathan in Bangalore; Editing by Aradhana Aravindan)

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