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Lamprell PLC - United Arab Emirates-based provider of oil field services - Says it has not made initial milestone repayment of $26.4 million under $45 million UAE export credit agency backed revolving trade loan facility which was agreed in October 2021. Continues to work with lending banks and also Blofeld Investment Management, which holds 25% stake in Lamprell, in connection with a extension to the payment date. ‘The group also continues to engage with Blofeld regarding an interim funding solution or bridge financing in connection with a possible offer to acquire the entire issued and to be issued share capital of Lamprell,’ it says.
Current stock price: 5.94 pence, up 2.4% on Monday
12-month change: down 91%
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