Marenave Schiffahrts AG (Marenave or Company) today has received written declarations of the relevant financing banks, according to which they will extend their statements (partially) not to seriously demand payment of the amounts due under the respective ship financing loans and under the corresponding guarantees given by Marenave (see ad-hoc announcement on 16 December 2016) until 28 February 2017. These statements are subject to immediate revocation notably in case that certain milestones are not reached in due time or to the banks' satisfaction.
The negotiations on agreements on the restructuring and release of liability between the Company and the financing banks are being continued.
The Management Board
Marenave Schiffahrts AG published this content on 26 January 2017 and is solely responsible for the information contained herein.
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Original documenthttp://www.marenave.com/en/investor-relations/notifications/2017-01-26-renewed-extension-of-statements-of-financing-banks-not-to-seriously-demand-payment-in-light-of-pending-restructuring-negotiations.pdf
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