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BRIEF-Aurelia Metals agrees on settlement terms with Glencore

Published 27/11/2015, 10:05 am
BRIEF-Aurelia Metals agrees on settlement terms with Glencore
GLEN
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AMI
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Nov 27 (Reuters) - Aurelia Metals Ltd AMI.AX :

* Aurelia agrees settlement and funding terms with Glencore (L:GLEN) AMI.AX

* Glencore to provide additional funding of a net $21.5 million to support the business through additional loans and credit support

* Glencore and AMI have jointly applied to the supreme court of NSW to have the current court proceedings adjourned"

* Entered into legally binding term sheet with Glencore for provision of funding to co and settlement of litigation between the parties

* All legal disputes with Glencore are settled

* All existing debt repayments are deferred for at least two years"

* Parties have jointly approached court for an adjournment of judgment until the earlier of the completion of the agreement or 2 March 2016

* Agreement represents best outcome for co in context of current and foreseeable commercial environment as well as legal and financial circumstances

* Source text for Eikon ID:nASX2BdJ0l

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