Marenave Schiffahrts AG: Extension of statements of financing banks not to seriously demand payment in light of pending restructuring negotiations
Marenave Schiffahrts AG (Marenave or Company) until today has received written declarations of all financing banks, according to which they will extend their statements (partially) not to seriously demand payment of the amounts due under the respective ship financing loans and under the corresponding guarantees given by Marenave (see ad-hoc announcement on 24 November 2016) until 27 January 2017. These statements are subject to immediate revocation notably in case that certain milestones are not reached in due time.
The negotiations on key issues for restructuring agreements between the Company and the financing banks which shall form the basis for an agreement on the restructuring and release of liability are being continued. In this context and as part of a comprehensive restructuring concept outside insolvency the possible participation of an already identified investor will take shape.
The Management Board
16-Dec-2016 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language: English Company: Marenave Schiffahrts AG Caffamacherreihe 7 20355 Hamburg Germany Phone: 040 / 28 41 93 0 Fax: 040 / 28 41 93 297 E-mail: email@example.com Internet: www.marenave.com ISIN: DE000A0H1GY2 WKN: A0H1GY Listed: Regulated Market in Hamburg; Regulated Unofficial Market in Berlin, Munich; Open Market in Frankfurt
End of Announcement DGAP News Service
530925 16-Dec-2016 CET/CEST