Ann: Half Yearly Report and Accounts-TGS.AX, page-10

So the lenders waived the covenants up until the 30 June 2016 in anticipation of the financial results.. The waver expired post 30 June 2016 and TGS continues to be in breach of the covenants. No new waver has been issued and the lenders have the right, if they choose to call in the loans.

Thats my understanding of it, can someone confirm?

Will need to email the company, we really need this clarified because this is a major risk.