Sale of Senior Facility Completed

RNS Number : 5494B

Metals Exploration PLC

31 January 2020

 

31 January 2020

METALS EXPLORATION PLC

("Metals Exploration" or the "Company")

Sale of Senior Facility Completed

Metals Exploration Plc (AIM: MTL), the natural resources exploration and development company with assets in the Pacific Rim region, announces that, further to its announcement of 22 January 2020, the New Lenders have completed the purchase of the rights and obligations of the Senior Lenders under the Senior Facility from HSBC and BNP Paribas.  The Senior Facility is now owned 70.6% by MTL Guernsey Ltd and 29.4% by Runruno Holdings Ltd.

The terms of the Standstill Agreement, under which the Company has been relieved of making both principal and interest payments due in relation to both the Senior Facility and the Mezzanine Debt Facilities, will remain in place until further notice.

Defined terms used in this announcement shall have the same meanings as set out in the Company's announcement of 22 January 2020.

This Announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR"). Upon the publication of this Announcement, this inside information is now considered to be in the public domain.

For further information please visit or contact www.metalsexploration.com

Darren Bowden	Chief Executive Officer	[phone]
Michael Langoulant	Chief Financial Officer	[phone]

Nominated & Financial Adviser & Broker:	STRAND HANSON LIMITED
James Spinney, James Dance	[phone]
Financial Adviser	HANNAM & PARTNERS
Andrew Chubb, Nilesh Patel	[phone]
Public Relations:	TAVISTOCK
Jos Simson, Barnaby Hayward	[phone]

 

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