UAE-based offshore engineering firm Lamprell “is urgently pursuing the options available to deliver a funding solution that will resolve the Group’s immediate and severe liquidity concerns.”

With only $8.4mn in net cash as of 23 June (down from $52.9mn at end-2021) Lamprell said on 24 June that it “requires an immediate funding solution or bridge financing to a funding solution in order to meet immediate funding obligations of $75mn in June/July 2022.” (CONTINUED - 641 WORDS)