Sign up Australia
Proactive Investors - Run By Investors For Investors

TerraCom Limited in ASX trading halt

TerraCom Limited in ASX trading halt

TerraCom Limited (ASX:TER) has been granted an ASX trading halt.

The company requested the halt pending an update on the previously announced restructuring of the company’s balance sheet.

TerraCom added:

- In principle agreement reached for a new Secured loan of USD$5 million from its existing note holders (represented by OCP Asia), which will replace the previously envisaged AUD$7 million equity placement by SPG Investment Holdings Ltd, significantly reducing Shareholder Dilution;

- In principle agreement reached for a new Facility with its existing note holders to invest in a new 5-year interest only bond that will replace their existing notes; and

- Received conversion notices from holders of USD$5 million of Convertible Notes and issued corresponding shares on 29 January 2016, further reducing the Companies debt by USD$5 million.

The halt will remain in place until the opening of trade on Wednesday 3rd February 2016, or earlier if an announcement is made to the market.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

View full TER profile View Profile

TerraCom Timeline

Newswire
May 15 2017
Newswire
February 01 2017
Newswire
June 30 2016

Related Articles

Burning coal
November 24 2017
The coal mine and mine mouth power station developer expects 2018 will be a game changer as its Pakistan project takes shape
Picture of coal coming off conveyor belt
April 18 2018
Studies indicate that the Nuurstei project could become a competitive near-term producer of coking coal.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use