Stratmin Global Resources PLC Related Party Loan Facility (3085O)

TIDMSTGR

RNS Number : 3085O

Stratmin Global Resources PLC

08 February 2016

8 February 2016

StratMin Global Resources Plc

("StratMin" or the "Company")

Related Party Loan Facility

StratMin announces that on 1 February 2016 it agreed with Consolidated Resources Pte Ltd ("Consolidated Resources") that Consolidated Resources will provide an unsecured loan facility to Graphmada Mauritius, the Company's 93.5 per cent. subsidiary, of up to A$200,000 to provide short term working capital (the "Facility"). GBP24,212 has been drawn down under the Facility as of today's date. The funds advanced under the Facility are free of interest and are repayable at the earlier of the completion of the transaction with Bass Metals Ltd (as originally announced on 2 September 2015, with further updates provided subsequently) and 30 June 2016.

Related Party Transaction

Consolidated Resources is interested in approximately 11.10 per cent of the issued share capital of Stratmin and is represented on the board of Stratmin by David Premraj. As such, it is considered a "Related Party" under the AIM Rules for Companies. The independent directors of the Company (being Laurie Hunter, Brett Boynton and Shishir Poddar), having consulted with Strand Hanson Limited, the Company's Nominated Adviser, consider the Facility to be fair and reasonable insofar as shareholders are concerned.

For further information please visit www.stratminglobal.com or contact:

 
 StratMin Global Resources Plc           +44 (0) 20 
  Brett Boynton, CEO                      3691 6160 
 Strand Hanson (Nominated & Financial 
  Adviser) 
  Rory Murphy / James Spinney /          +44 (0) 20 
  Ritchie Balmer                          7409 3494 
 Beaufort Securities (Broker)            +44 (0) 20 
  Jon Belliss                             7382 8300

This information is provided by RNS

The company news service from the London Stock Exchange

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February 08, 2016 02:00 ET (07:00 GMT)

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