June 6, 2019 / 7:43 AM / 2 months ago

BRIEF-Matra Petroleum Updates On Funding Situation

June 6 (Reuters) - Matra Petroleum AB:

* SAID ON WEDNESDAY THE COMPANY CURRENTLY DOES NOT HAVE ACCESS TO SUFFICIENT FUNDING TO COVER WORKING CAPITAL REQUIREMENTS FOR THE COMING THREE MONTHS

* IN CASE LENDERS TO THE COMPANY’S SUBSIDIARIES DEMAND ACCELERATION OF MATRA PETROLEUM’S OBLIGATIONS AND/OR FORECLOSE ON COLLATERAL FOR THE LOANS OR IF NO REFINANCING IS IN PLACE OR IF FURTHER FUNDING OF THE PARENT COMPANY IS NOT SECURED, MATRA WOULD NEED TO CONSIDER LIQUIDATION OPTIONS

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Further company coverage: (Gdynia Newsroom)

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