🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

BRIEF-Paladin Energy says EDF informed co it is not prepared to enter into a standstill

Published 2017-07-04, 10:59 a/m
© Reuters.  BRIEF-Paladin Energy says EDF informed co it is not prepared to enter into a standstill
EDF
-
PDN
-

July 4 (Reuters) - Paladin Energy Ltd PDN.AX :

* Approached EDF (PA:EDF) to grant a standstill in respect of enforcement by EDF of approximately US$277 million due to it on 10 July 2017

* EDF now informed co that it is not prepared to enter into standstill agreement and requires payment of amount when due on 10 July, 2017

* "Paladin is considering implications of EDF's position for future of company"

* Commenced negotiations with EDF before independent expert ruling that additional security offered proposed by co was insufficient

* Further to receipt of demand from EDF, boards of relevant companies met and resolved to appoint administrators

* Refers to announcements regarding standstill of paladin's payment obligation to Electricite De France S.A Source text for Eikon: ID:nCCN5csVda Further company coverage: PDN.AX

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.