Short Term Loan Facility

RNS Number : 9207E

Rurelec PLC

06 November 2015

 

6 November 2015

Rurelec PLC

("Rurelec" or the "Company")

Short Term Loan Facility

Further to the announcement of 30 October 2015, the Directors of Rurelec PLC (AIM: RUR), the owner, operator and developer of power generation capacity internationally, are pleased to announce that the Company has entered into a short term loan agreement with Radix Investment UK Limited ("the Radix facility" or "the facility") for an amount of £600,000. This facility has been fully drawn down. Rurelec has today received the funds, in full, to the credit of its bank account. The facility provides the Company with working capital in the short term while the Board sources further, long term funding.

The Radix facility is secured by debenture over all of Rurelec's assets and is repayable at the end of December 2015.

For further information please contact:

Rurelec PLC	W H Ireland
Mark Keegan, Chief Executive	Paul Shackleton and James Bavister
Tel: [phone]	Tel: [phone]

 

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