Summary
COSALT, which provides safety equipment for offshore oil and gas platforms, has plunged into the red and warned it may breach key loan agreements with its banks.
It blamed volatility in the price of oil and delayed orders for the swing to a Pounds 3.4m half-year loss from its previous Pounds 777,000 profit . It said it was scrapping its interim dividend to conserve cash and is in a 'well advanced' stage for a cash call to prop up its balance sheet.See the full content of this document
Extract
Cosalt Warning On Loan Agreements
The...
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