Not necessarily. Listed companies almost never announce terms of...

Not necessarily. Listed companies almost never announce terms of lending agreements or covenant defaults. PMP may be in breach of terms of the debt to market value equity covenant but normally this would be dealt with by lenders by issuing PMP with a 'no waiver / no action' letter which says while lenders have rights they do not intend to exercise them at the moment which gives management some comfort. Covenant default (ie as opposed to default on interest and principsl repayment) is a common problem and lenders do not normally take action unless a. asset sales fail to produce results or b. trading deteriorates or c. they really lose faith in management. Generally no announcement until lenders actually taking action to enforce rights not just because of covenant default.