RBS has waived a payment due from Syndicate Asset Management in return for a larger one in September.
The investment management company was due to repay £2m of debt to Royal Bank of Scotland on 31 July and it is now required to repay £3.3m by 23 September 2009.
In May 2009, SAM raised £3.1m at 1p a share. At 2.7p a share, SAM is valued at £17.5m. The shares have lost nearly 97% of their value over the past year.
SAM had £5.9bn under management in May 2009. The company needs to report its figures to March 2009 by the end of September. Last year the full year figures were published on 5 August.
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