Troubled SeaBird Exploration convenes EGM

摘要

SeaBird Exploration plc announced in mid-October that it was to convene an extraordinary general meeting on 30 October 2014. Earlier that month, pending further clarification of its financial situation, SeaBird requested that Oslo Bors maintains suspension of its shares and SBX03 bonds. In early October, Reuters reported that the seismic survey company had failed to renegotiate a convertible loan and may default on the facility, which could automatically mean a default on a bigger secured callable bond. Reuters was quoting a statement issued by the company.