May 21, 2018 / 11:13 AM / 3 months ago

BRIEF-Southgobi Resources Updates On Payment Obligations To China Investment Corporation

May 21 (Reuters) - SouthGobi Resources Ltd:

* TOTAL INTEREST PAYMENTS & ASSOCIATED FEES DUE & PAYABLE TO CHINA INVESTMENT CORPORATION ON MAY 19 AMOUNTED TO US$30.3 MILLION

* NOT PAID OUTSTANDING CASH INTEREST PAYABLE NOR ISSUED PIK INTEREST SHARES TO CIC AS PROVIDED FOR UNDER CONVERTIBLE DEBENTURE

* COMPANY IS IN DISCUSSIONS WITH CIC IN RELATION TO A REPAYMENT PLAN FOR OUTSTANDING INTEREST PAYABLE

* RECEIVED NO INDICATION FROM CIC TO ACCELERATE AMOUNTS OUTSTANDING UNDER CONVERTIBLE DEBENTURE AND JUNE 2017 DEFERRAL AGREEMENT Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below