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Zoltav amends ARA Capital loan repayment date
4th Sep 2020 16:28
(Sharecast News) - Russia-focussed oil and gas exploration and production company Zoltav announced on Friday that the terms of the loan agreement with ARA Capital Holdings have been amended, to extend the final repayment date to 31 December 2020.
The AIM-traded firm said all other terms of the loan remained unchanged.
As it had previously announced, the company said it was continuing to hold discussions with a number of prospective providers of project finance for developing East Bortovoy.
"In the event the company takes a positive final investment decision on this project in due course, it is currently envisaged that the loan would be restructured in order to facilitate any required equity contribution to the project or a part thereof," the board said in its statement.
The AIM-traded firm said all other terms of the loan remained unchanged.
As it had previously announced, the company said it was continuing to hold discussions with a number of prospective providers of project finance for developing East Bortovoy.
"In the event the company takes a positive final investment decision on this project in due course, it is currently envisaged that the loan would be restructured in order to facilitate any required equity contribution to the project or a part thereof," the board said in its statement.