Breach of covenants
The financial statements for Q3 2012 for Bergen Group ASA cause a breach of the covenants in existing loan to the Bergen Group ASA. The group has therefore established dialogue with Norwegian Trustee who manages the bond loan, and the bond owners will now be summoned to a bond holder meeting.
More details can be found in the interim report for Q3 2012 distributed by BERGEN earlier today.
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Source: Bergen Group via Thomson Reuters ONE