GREY:NKRSF - Post by User
Comment by
Chuckleeon May 24, 2016 7:53am
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Post# 24898694
RE:RE: Notes
RE:RE: NotesMarket News & Research Alert News for NKO Alert sent 2016-05-24 07:41:57 AM ET Delivery preference: Immediate delivery BRIEF-Niko Resources provides corporate update 2016-05-24 07:40:00 AM ET (Reuters) May 24 (Reuters) - Niko Resources Ltd * Niko provides corporate update * Expects on or about May 31 to commence solicitation of consents to amend trust indenture governing 7% senior notes due Dec, 2017 * Continues to be in default of certain obligations under diamond settlement agreement * On June 30, 2015, company did not make a scheduled payment of $5 million under terms of diamond settlement agreement * On September 30, 2015, December 31, 2015, and March 31, company did not make additional scheduled payments totaling $15 million * Texas court has issued a summary judgment in amount of $20 million plus interest and legal costs * Currently considering implications of this judgement and evaluating all its options, including an appeal Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780) Fiscal year ends Jul 31, 2015. Values are displayed in millions. Currency is displayed in USD. () = Negative Values. *GAAP = prior to non-GAAP analyst adjusted earnings.