Nighthawk Energy plc Amendment to Existing Bank Agreement (3998A)
December 28 2017 - 2:00AM
UK Regulatory
TIDMHAWK
RNS Number : 3998A
Nighthawk Energy plc
28 December 2017
28 December 2017
NIGHTHAWK ENERGY PLC
("Nighthawk" or "the Company")
Amendment to Existing Bank Agreement
Nighthawk, the US focused oil development and production company
(AIM: HAWK and OTCQX: NHEGY), announces that on 27 December 2017 it
entered into an amendment (the "Amendment") to its existing bank
agreement with the Commonwealth Bank of Australia ("CBA").
Since the announcement on 2 October 2017 of the waiver relating
to the minimum production covenant breach of the CBA term loan
("CBA Loan"), the Company has been in discussions with CBA and it
has now agreed to formalise the waiver into an amendment of the CBA
Loan on substantially the same terms as the waiver. The Amendment
extends the current maturity of the CBA Loan to 1 June 2018, and
includes the previously announced agreement to appoint an
investment bank to advise on available options given the
uncertainty around the Company's ability to refinance or repay the
CBA Loan principal loan balance of $21.25 million when it falls due
on 1 June 2018.
Further announcements will be made in due course.
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU 596/2014).
Enquiries:
Nighthawk Energy plc
Rick McCullough, Chairman +1 303 407 9600
Kurtis Hooley, Chief Financial
Officer +44 (0) 20 3582 1350
Stockdale Securities Limited +44 (0) 20 7601 6100
Richard Johnson
Edward Thomas
This information is provided by RNS
The company news service from the London Stock Exchange
END
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