REXLot Holdings step A debt repayment deadline extended to July 31

By Caroline Salls

Pittsburgh, June 28 – REXLot Holdings Ltd. reached an agreement with shareholder “VC” and his Keen Start and Kingly Profits associates that the company would complete step A of a debt repayment deal by no later than July 31, according to a news release.

REXLot said step A requires it to partially redeem its 2017 and 2019 bonds and partially repay the shareholder’s loan.

Step A was previously scheduled to be completed by June 30.

According to the release, REXLot and VC received a bank request to provide an undertaking and indemnity to the bank. The company and the bank are still in the process of negotiating the terms of the draft undertaking and indemnity.

As a result, the step A completion deadline has been extended to July 31.

Company shares, which were suspended from trading on April 1, will remain suspended until further notice, the release said.

Based in Hong Kong, REXLot provides machines and services to the Chinese lottery market.

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