RUUKKI GROUP ENTERS INTO NEW STANDBY LOAN FACIL...
10:00 London, 12:00 Helsinki, 20 December 2011 - Ruukki Group Plc, Stock
Exchange Release
RUUKKI GROUP ENTERS INTO NEW STANDBY LOAN FACILITY AGREEMENT WITH KERMAS
Ruukki Group Plc ("Ruukki" or the "Company") (LSE: RKKI, OMX: RUG1V) wishes to
announce it has entered into a new US$55 million standby loan facility agreement
with Kermas Ltd ("Kermas"), which replaces the current facility for the same
amount that is restricted to working capital purposes only and expires on 31
December 2011.
The new standby facility is less restrictive and will provide Ruukki with
additional financing options, over and above its current cash reserves, as it
pursues its growth strategy to increase its ore resources and expand production.
Due to its 29% shareholding, Kermas is a Related Party (as defined by the
Listing Rules) of the Company. In accordance with the Listing Rules, the
facility has been entered into on normal commercial terms on an unsecured basis
and therefore no prior shareholder approval is required.
This loan facility is available until 31 December 2014 and the loan term will be
from the first draw-down until 31 December 2015.
RUUKKI GROUP PLC
Thomas Hoyer
CEO
For additional information, please contact:
Ruukki Group Plc
Thomas Hoyer, CEO, +358 (0)10 440 7000,thomas.hoyer@ruukkigroup.com
Markus Kivimäki, General Manager, Corporate Affairs and Company Secretary, +358
(0)50 3495 687,markus.kivimaki@ruukkigroup.com
Investec Bank Plc
Stephen Cooper, +44 (0)20 7597 5104,stephen.cooper@investec.co.uk
RBC Capital Markets
Martin Eales, +44 (0)20 7653 4000,martin.eales@rbccm.com
Peter Barrett-Lennard, +44 (0)20 7653 4000,peter.barrett-lennard@rbccm.com
Ruukki Group is a chrome mining and minerals producer focused on delivering
sustainable growth with a speciality alloys business in southern Europe and a
ferro alloys business in southern Africa. The Company is listed on NASDAQ OMX
Helsinki (RUG1V) and the Main Market of the London Stock Exchange (RKKI).
www.ruukkigroup.com
Distribution:
NASDAQ OMX Helsinki
London Stock Exchange
main media
www.ruukkigroup.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ruukki Group via Thomson Reuters ONE
[HUG#1572631]
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