Metro Performance Glass (MPG) has announced that its bank syndicate has agreed to extend the maturity date of its loan facilities to July 31, 2025.
The decision comes as the company's directors plan to undertake a capital raising in the June quarter of next year.
MPG's directors are engaged with four potential investor groups to support a rights offer and are also open to receiving expressions of interest from other parties.
The extension will provide the company with more time to advance its operational and customer service improvements, which will be reflected in its immediate earnings trajectory.
It will also allow for the completion of the financial statements for the 2025 financial year, providing a more comprehensive information picture for investors.
The directors reiterated that all options remain open for consideration until the company has committed unconditionally to a specific path or transaction.
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