MBC response ...Sent an email yesterday and received their response this morning ......... ...........
Thank you for your enquiry. Please note that the proceeds of the loans have been used for the three aspects mentioned in the releases: SG&A, planing and preparation for potential resumption of operations and settlement of labor disputes.
Specifically with regard to labor disputes, a significant portion of all componentes of the labor class action (including setllement of individual claims) have already been setlled with the abovementioned payments. Negotiations with labor authorities however are still underway with the objective of extinguishing the class action altogether. As soon as the company has material information in that regard it will communicate those to investors.
Please note that negotiations between the company´s Special Committee and the Investor continue. While the company in principle could be in a position to disclose more concrete news within a week´s time frame, this depends on several factors coming together, which at this stage cannot yet be foreseen. This is the reason for the weekly extensions.
Please also note that while negotiations have advanced over the last several months, there can be no assurances that the Company will pursue or complete a business transaction or sale under its strategic process nor that a business transaction or sale will provide any value to all or any stakeholders.