Metals Exploration (GB:MTL) has released an update.
Metals Exploration plc is embroiled in a dispute with its lenders regarding the applicable interest rate on its mezzanine debt, with claims of default and differing views on owed amounts potentially topping US$4.4 million. Despite previous informal assurances, MTL Lux now aligns with RHL Group in seeking a 15% interest rate, as opposed to the previously agreed 7%. The company is negotiating a settlement while making interim payments of approximately 50% of the disputed amounts to its lenders.
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