Xcite Energy says holders of the $135 million senior secured bonds have approved the amendments to the bond agreement dated 27 June 2014. The maturity date of the bonds has been extended until the earlier of: a) 31 October 2016
b) the date the Bond Trustee (acting on the instructions of the Bondholders) declares the Bonds to be immediately due and payable.
Further, the bondholders have approved a deferral of fixed rate interest which would otherwise be due on 30 September 2016 to 31 October 2016. The proposed resolution obtained 100% of the votes, and the proposal was adopted according to the voting requirements of the bond Agreement.