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- Altura Mining (AJM) has announced changes to its loan note facility, after the holders agreed to defer payments until October 31
- The loan note holders have also agreed to waive key covenants under the facility until the end of October as well
- Altura’s securities remain voluntarily suspended from trading, as the company restructures its debt arrangements
- The company hired Perth-based corporate advisory group Azure Capital to help them achieve this restructure
- It’s also advised shareholders its securities will remain locked up, pending a further update on its debt arrangements
- Shares in Altura Mining last traded for 7 cents each
Altura Mining’s (AJM) shares remain suspended from trading, despite the company announcing changes to its existing loan note facility.
Altura’s securities have been voluntarily suspended since August 12, as the company restructures its debt arrangements.
The company hired Perth-based corporate advisory group Azure Capital to help them achieve this goal.
While Altura today announced it was one step closer to its debt restructure goal, with the loan note holders agreeing to defer payments under the facility until October 31.
They’ve also agreed to waive key covenants under the facility until the end of October as well.
The agreement comes after Altura negotiated in March this year to have the $244 million loan note’s maturity extended until August, 2023.
Meanwhile, along with the changes to the note facility, the company also announced to shareholders that its securities will remain locked up until a further update is given on its debt arrangements.
Shares in AJM last traded for 7 cents each on August 9, 2020.
