Jervois Global Limited (AU:JRV) has released an update.
Jervois Global Limited has negotiated a covenant waiver with the primary bondholder for its $100 million ICO senior secured bonds, postponing all financial covenants until July 20, 2024. The company is also actively pursuing balance sheet strengthening strategies, which includes a 30% reduction in senior corporate management roles and a similar cut in Non-Executive Directors’ cash compensation. The ICO Bonds’ terms remain unchanged, with no principal repayment due until July 2026.
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