June 25 (Reuters) - ShaMaran Petroleum Corp SNM.V :
* SHAMARAN PETROLEUM - AGREEMENT HAS BEEN REACHED FOR PROPOSAL BETWEEN CO & AD HOC COMMITTEE
* SHAMARAN PETROLEUM - AS OF JUNE 25, AHC HAS INFORMED CO THAT OVER TWO THIRDS OF HOLDERS OF OUTSTANDING BONDS HAVE INDICATED THEY WILL SUPPORT PROPOSAL
* SHAMARAN - PROPOSAL INCLUDES $11.4 MILLION OF AMOUNTS CREDITED TO DSRA TO BE USED BY CO TO PAY INTEREST ON BONDS DUE NEXT INTEREST PAYMENT DATE IN JULY
* SHAMARAN PETROLEUM - PROPOSAL INCLUDES RESIDUAL $11.4 MILLION TO REMAIN IN DSRA TO PROVIDE CREDIT SUPPORT FOR FUTURE PAYMENT OBLIGATIONS UNDER BOND TERMS
* SHAMARAN PETROLEUM - PROPOSAL INCLUDES TEMPORARY WAIVER UNTIL JULY 5, 2021 TO BE GRANTED FOR EXISTING BREACH OF FINANCIAL COVENANT RELATING TO EQUITY RATIO
* SHAMARAN PETROLEUM - CO'S OBLIGATIONS TO MAKE $15 MILLION AMORTIZATION PAYMENT DUE ON JULY 5 WILL BE DEFERRED UNTIL DEC. 5, 2021
* SHAMARAN PETROLEUM - HAS DETERMINED TO DEFER 2020 ANNUAL GENERAL MEETING UNTIL SECOND HALF OF YEAR
* SHAMARAN PETROLEUM - 2020 ANNUAL GENERAL MEETING WILL BE HELD ON NOVEMBER 13, 2020