Rurelec PLC Partial Debt Repayment (7163S)
July 10 2020 - 9:50AM
UK Regulatory
TIDMRUR
RNS Number : 7163S
Rurelec PLC
10 July 2020
10 July 2020
Rurelec PLC
("Rurelec" or the "Company")
Partial Debt repayment
Further to the announcement of 6 March 2020 (the
"Announcement"), the Directors of Rurelec PLC (AIM: RUR) note that
Rurelec have received a further US $280,000 by way of partial
repayment by Patagonia Energy Limited ("PEL") of the Amended and
Restated Loan Notes.
The balance outstanding on the loan notes is approximately US
$20.92 million with the first US $5 million of repayment shared
80/20 between Rurelec and Basic Energy Limited, the ultimate
shareholders of PEL, and then the balance paid 72:28 thereafter
(Rurelec: Basic Energy Limited). The total amount owing to Rurelec
is now US $15.2 million.
There can be no guarantee as to when any further loan repayments
will be made. Further updates will be provided in due course.
For further information please contact:
Rurelec PLC W H Ireland (Nomad & Broker)
Simon Morris, Director Katy Mitchell
Andy Coveney, Director Lydia Zychowska
Tel: 020 7549 2839/40 Tel: 020 7220 1666
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END
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