Monday, March 28, 2016

Niko Resources Ltd.- NKO.t

Niko Resources Ltd.- NKO.t has operations in India, Bangladesh, Indonesia, Kurdistan Iraq, Madagascar, Pakistan and Trinidad.

Niko is focused on value generation in the D6 Block in India.





On March 24, 2015 the company released News

Niko Resources Ltd. (“Niko” or the “Company”)(TSX – “NKO”) announces that, as contemplated in its press release of March 14, 2016, it will commence a solicitation of consents (the “Consent Solicitation”) to amend the trust indenture (the “Indenture”) governing its 7% senior unsecured convertible notes due December 31, 2017 (the “Notes”).
The terms and conditions of the Consent Solicitation will be set out in the consent solicitation statement of Niko dated March 29, 2016 (the “Consent Solicitation Statement”) which will be mailed to holders of the Notes (the “Noteholders”) on or about April 15, 2016.

Consent Solicitation
The purpose of the Consent Solicitation is to obtain approval for proposed amendments to the Indenture (the “Indenture Amendments”) as outlined below under “Terms of Indenture Amendments”. The Indenture Amendments require the consent of Noteholders holding not less than 66 2/3% of the principal amount of the outstanding Notes (the “Requisite Consents”). As disclosed on March 14, 2016, Niko executed a support agreement with institutional lenders (the “Lenders”) holding approximately 85% of the senior term loan facilities (the “Term Loan”) and a support agreement with Noteholders (the “Consenting Noteholders”) holding approximately 60% of the Notes, each in support of the Company’s strategic plan of maintaining its core assets until the value of these assets can be enhanced for the benefit of the Company’s stakeholders. The Consenting Noteholders have agreed to execute consents approving of the Indenture Amendments.












http://pennystockjournal.blogspot.com/2016/03/niko-resources-ltd-nkot.html