Freedom Foods Group (ASX:FNP)
has secured a standstill agreement with its two main lenders, HSBC and National Australia Bank, regarding financing facilities.
Its Interim CEO Michael Perich says that these agreements will provide the company with the financial support and flexibility it needs to ensure the business continues to perform at its best while it pursues recapitalisation options.
The standstill is effective until 30 November 2020 and is subject to the Company meeting certain milestones relating to the progression of the recapitalisation plan.
Freedom Foods shares will remain in voluntary suspension until 30 October 2020 at the Company’s request.
Shares in Freedom Foods Group (ASX:FNP)
last traded at $3.01.