China-focused resources firm Fortune Oil has received a formal waiver from the facility agent on behalf of the over two thirds majority of lenders from the Fortune Oil group's medium-term lending syndicate.
A statement issued by the company on Wednesday morning announced it would send a circular to shareholders in due course, which would contain the details of the general meeting in order to approve the proposed transaction.
MF
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMsNews The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
-
VAT hike on private school fees could come earlier than previously expectedThe government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
