The standstill agreement is valid only until the 17th July. This isn't far away to arrange a funding proposal.
Maybe the 17 July will allow enough time to get some draft financial accounts completed which will show the operational performance and cashflow during 2h . If there are financial covenant's in place with Carlyle then this may lead to breach / non breach remedies...
The company must be confident of obtaining the alterative funding.
I am surprised that so far raising additional equity via a share purchase plan has not been been proposed.
Ann: Pioneer enters into Standstill Agreement with Carlyle Group, page-5
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Mkt cap ! $73.89M | |||
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