Print Published 27th Dec 2018, 19:05

Matomy Media reveals fund raising and survival plan

Matomy Media Group today put proposals to its bondholders that, if accepted, would leave it in control of selling its 90% subsidiary Team Internet instead of facing the prospect of being obliged to sell back its shares in that company at a 40% discount (assuming Team Internet could finance such a repurchase) or, worse still, liquidation.

The bondholders have already threatened to seek early repayment of bonds amounting to $30 million (£23.5 million) based on alleged defaults of the terms of their issue (see Loss-making Matomy at loggerheads with bondholders).