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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Maple Energy | LSE:MPLE | London | Ordinary Share | IE00B1FRPX03 | ORD USD0.01 (EX-DIVIDEND) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.625 | 0.00 | 00:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Jan 2020 to Jan 2025
TIDMMPLE
RNS Number : 1564Y
Maple Energy plc
27 November 2014
MAPLE ENERGY PLC
("Maple" or the "Company")
Ethanol Business Update
In the interim statement released by the Company on 30 September 2014 it was noted that Maple's ethanol plant was shut down in mid-August for a period of approximately 12 weeks as sugar cane crop has not yet reached the age where it is suitable for harvesting.
Since this time the Company has identified a number of alternative operational proposals for Maple's ethanol business (the "Proposals"), which are currently being considered by the senior lenders of the Company's ethanol business (the "Senior Lenders"). The Proposals, which may or may not involve the ethanol plant being restarted, are all reliant on working capital support from the Senior Lenders. The Company will provide a further update once a decision on the Proposals has been taken in conjunction with the Senior Lenders.
In addition, the Company is continuing to work closely with the Senior Lenders in order to maintain sufficient working capital and waive certain obligations under the Senior Loan Agreements until new funding is available or an alternative transaction is undertaken. On 25 November 2014 the Company received a waiver from the Senior Lenders in respect of the payment obligations under the existing loan agreements for a period of five days. The continued working capital support from the Senior Lenders is critical to the Company at the present time.
The Company is continuing with the process of seeking equity investment from strategic investors or business disposals in conjunction with its Senior Lenders. There is no guarantee that a transaction will be concluded on terms acceptable to the Company, or that any material value will accrue to shareholders.
The Company will provide a further update as appropriate.
For further information, please contact:
Maple Energy plc (+ 51 1 611 4000)
Guillermo Ferreyros Cannock, Chief Executive Officer, and Executive Director
Cenkos Securities plc (+ 44 131 220 6939)
Derrick Lee
Alan Stewart
This information is provided by RNS
The company news service from the London Stock Exchange
END
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