19 March 2015
For Immediate Release
Asia Resource Minerals plc ("ARMS" or the "Company")
Recapitalisation Update
Following the Company's announcement dated 18 March 2015, the Company and the informal noteholder group have progressed discussions and reached an in principle agreement on the allocation of principal repayment between the Notes if the Recapitalisation is completed. Terms used herein have the same meaning as defined in the 18 March 2015 announcement.
In respect of the initial $118.75m principal repayment made on a closing:
- $62.47m will be applied in repayment of the 2015 Notes; and
- $56.28m will be applied in repayment of the 2017 Notes
To the extent that BCE or BC is able to obtain a commitment for a revolving credit facility in an amount of up to $50.0m, then an additional $23.75m will be applied in repayment of either the Notes or the New Notes on a pro rata basis to the then outstanding principal amounts.
- ENDS-
For enquiries, please contact:
Houlihan Lokey Joseph Swanson +44 20 7747 2727 JSwanson@HL.com
Moelis & Company Bert Grisel |
Houlihan Lokey Christopher Foley +44 20 7747 2717 CFoley@HL.com
Moelis & Company Weihan Lee |
Houlihan Lokey Brandon Gale +65 6438 9659 BGale@HL.com
ARMS plc/Berau Sean Wade +44 20 7201 7511 sean.wade@asiarmplc.com |
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