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BRIEF-Royal Wolf responds to announcement by Titan Energy Services

Published 22/12/2015, 12:22 pm
© Reuters. BRIEF-Royal Wolf responds to announcement by Titan Energy Services
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Dec 22 (Reuters) - Royal Wolf Holdings Ltd RWH.AX :

* Says Royal Wolf has outstanding invoices and contracted future revenues from the titan group of in excess of $5.0M

* Notes the announcement by titan energy services that it and certain of its subsidiaries have resolved to appoint administrators

* Says total amount of royal wolf's claim against the titan group entities will need to be quantified

* Will pursue full amount outstanding however we have not included in our forecast any contribution by 30th June 2016"

* Impact on rental revenue and potential asset sales is forecast to reduce FY 2016 EBITDA to the range of $36-$39 million and npat to $7.5-$9.5 million

* Source text for Eikon ID:nASX6Yn0ZX

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