March 27, 2020 / 2:05 AM / 5 days ago

BRIEF-Liquefied Natural Gas Updates On LNG9 Takeover And Bridge Funding Proposal

March 27 (Reuters) - Liquefied Natural Gas Ltd:

* LNG9 INFORMED CO THAT ITS BIDDER STATEMENT TO BE LODGED WITH ASIC IN MID-APRIL 2020; DELAY DUE TO GLOBAL IMPACT OF COVID-19

* BOARD OF DIRECTORS UNANIMOUSLY SAYS SHAREHOLDERS SHOULD ACCEPT LNG9 OFFER ONCE RECEIVED

* FIRST WALL STREET CAPITAL CORP WILL NOT PROVIDE FUNDS ACCORDING TO TERMS OF SECURED CONVERTIBLE NOTE SUBSCRIPTION DEED

* LNG9 INTENDS TO PROVIDE/ARRANGE NEW SOURCES OF FUNDING TO HELP CO’S WORKING CAPITAL POSITION AND SUSTAIN OPERATIONS

* EXISTING FUNDING SUFFICIENT TO MEET COMMITMENTS UNTIL LATE APRIL, BUT NEEDS EXTRA FUNDING URGENTLY TO OPERATE BEYOND Source text for Eikon: Further company coverage:

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