Metis Energy Subsidiary Breaches Loan Covenant, Lender Maintains Terms
Metis Energy Limited's subsidiary, Vietrof RE Group, has breached a financial covenant in its loan agreement with a Swiss fund as of December 31, 2024. The lender will not demand early repayment, and the company is seeking to resolve the issue or obtain a waiver. The outstanding loan amount is approximately $11.34 million, and management is actively addressing the situation.
Manhattan Resources Limited ( (SG:L02) ) has provided an update.
Metis Energy Limited, through its wholly-owned subsidiary Vietrof RE Group, has breached a financial covenant in its loan agreement with a Swiss fund as of December 31, 2024. Despite this breach, the lender has agreed not to demand early repayment, and the company is working to resolve the issue or obtain a waiver. The outstanding loan amount is approximately $11.34 million, and management is actively addressing the situation.
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