Rurelec PLC Bridge Properties Limited Loan Repayment (3266R)
February 27 2019 - 10:50AM
UK Regulatory
TIDMRUR
RNS Number : 3266R
Rurelec PLC
27 February 2019
27 February 2019
Rurelec PLC
("Rurelec" or the "Company")
Bridge Properties (Arena Central) Limited Loan Repayment
Further to the announcement of 25 January 2018, the Directors of
Rurelec PLC (AIM: RUR) announce that today they made a principal
repayment of GBP200,000 on the remaining temporary loan facilities
provided by Bridge Properties (Arena Central) Limited. The amount
of principal now outstanding is GBP822,260.96. The remaining
outstanding facility is due on 30 June 2019. Rurelec envisages
making further repayments in the coming months.
The management of Energia del Sur, S.A. ("EdS") has notified
Rurelec PLC that they intend repaying the outstanding loan owed to
Rurelec Project Finance Limited ("RPFL") in full by 30 June 2019.
The current outstanding amount owed is US $687,000.
With the EdS plant back up to full operation, EdS management has
projected that in Q3/Q4 2019 once the RPFL debt has been fully
repaid it will commence the repayment of the unsecured debt owed to
Patagonia Energy Limited, the joint venture company which owns EdS
and in which Rurelec has a 50% share.
For further information please contact:
Rurelec PLC W H Ireland (Nomad & Broker)
Simon Morris, Director Katy Mitchell
Andy Coveney, Director Chris Viggor
Tel: 020 7025 8026/8 Tel: 020 7220 1666
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END
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