Repcol confirms continued Cargill restructure discussions

Subiaco-based debt collection agency Repcol Ltd has confirmed it will continue discussions on restructuring proposals with Cargill Financial Services, which will fund the operating costs of Repcol's Indian operations until August 31.

The full text of a company announcement is pasted below

Repcol Limited ("Repcol") advises that its discussions on restructuring proposals with Cargill Financial Services Inc ("Cargill") are continuing.

To enable these discussions to be progressed to the point of a firm agreement, Cargill has agreed to assist in funding the operating costs of Repcol India Pvt Ltd until 31 August 2007 subject to certain terms and conditions relating to:

Cargill has also agreed to a standstill arrangement in relation to its convertible note with Repcol whilst the parties are negotiating.