On 24 August 2016, the Company received approval of some further amendments to the terms and financial covenants of the Facility and committed to an increase in the annual principal repayments over the remaining term of the Facility to $75 million, payable in six month instalments of $37.5 million, with the first payment due on 31 December 2016. The principal repayments will be funded from the proceeds of the
Company’s ongoing vessel sales programme, operating earnings and any additional funding options available to the Company.
MRM Price at posting:
35.0¢ Sentiment: Hold Disclosure: Not Held
