Short Term Loan Facility

RNS Number : 0628T

Rurelec PLC

15 July 2015

 



15 July 2015

RURELEC PLC

("Rurelec" or "the Company")

Short Term Loan Facility

The Company has received notice from the provider of the  bridging loan facility of US $12 million announced on 19^th June that the facility has been suspended pending clarification with the lender on the security and repayment of the facility, if drawn.

There has therefore been no drawdown on the facility pending re-instatement and, in the event that the facility is not re-instated, the Company has a number of alternative sources of finance on which a further announcement will be made in due course.  The Group expects to repay all loans from the proceeds of asset sales or alternative facilities which are currently in negotiation.

For further information please contact:

Rurelec PLC	W H Ireland	CNC Communications
Colin Emson, Chairman and Non-Executive Director	Paul Shackleton and James Bavister	Ana Ribeiro Director
Tel: [phone]	Tel: [phone]	Tel: [phone]

 

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