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Ncondezi Energy boss says there's been 'supportive message from lenders' on US$4.5M shareholder loan

Ncondezi Energy Limited (LON:NCCL) CEO Hanno Pengilly tells Proactive its lenders have reconfirmed in principle their support for the company’s restructuring that will extend the debt repayment schedule period.

Pengilly says the shareholder loan period has been extended by 12 months from the future restructuring approval date. The company is waiting on lender Africa Finance Corporation to approve the restructuring process, but Pengilly says this is taking longer to process because of the coronavirus pandemic impact.

Quick facts: Ncondezi Energy Ltd

Price: 3.1 GBX

AIM:NCCL
Market: AIM
Market Cap: £10.84 m
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Ncondezi latest report 'highlights good progress made so far this year'

Ncondezi Energy Limited's (LON:NCCL) Hanno Pengilly talks Proactive London through their highlights for the year so far which includes submitting the historical cost audit for flagship Mozambique power project. The company also reported a loss for the period of US$1.21mln, narrowed from a...

2 days, 11 hours ago

2 min read