May 24 (Reuters) - Niko Resources Ltd NKO.TO
* Niko provides corporate update
* Expects on or about May 31 to commence solicitation of
consents to amend trust indenture governing 7% senior notes due
Dec, 2017
* Continues to be in default of certain obligations under
diamond settlement agreement
* On June 30, 2015, company did not make a scheduled payment
of $5 million under terms of diamond settlement agreement
* On September 30, 2015, December 31, 2015, and March 31,
company did not make additional scheduled payments totaling $15
million
* Texas court has issued a summary judgment in amount of $20
million plus interest and legal costs
* Currently considering implications of this judgement and
evaluating all its options, including an appeal
Source text for Eikon: ID:nMKWZPB4ka
Further company coverage: NKO.TO
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