Brief: IRC Updates On Temporary Bridge Loan

IRC

19/10/2018 13:17

Oct 19 (Reuters) - IRC  1029.HK :
    * SAYS "POKROVSKIY MINE" (THE LENDER) HAS CONFIRMED THAT IT
WILL
NOT TAKE ANY ACTION OR EXERCISE ITS RIGHT TO DEMAND REPAYMENT OF
THE BRIDGE LOAN ON 20 OCTOBER 2018 UNDER CERTAIN CONDITIONS
    * ALL AMOUNTS OWING UNDER THE BRIDGE LOAN SHOULD BE REPAID
IN FULL
BY DECEMBER 20
    * ANY INTEREST THAT HAS ACCRUED ON OR PRIOR TO OCTOBER 20
SHOULD
BE PAID IN FULL BY OCTOBER 20 AND ANY INTEREST ACCRUING AFTER
OCTOBER 20 SHOULD BE PAID ON THE LAST DAY OF EACH MONTH PRIOR TO
DECEMBER 20
    * THE COMPANY PAYS AN APPROVAL FEE IN RUSSIAN ROUBLES
EQUIVALENT
TO $200,000 TO THE LENDER IN CONSIDERATION FOR THE WAIVER OF THE
LENDER’S RIGHTS AS SET OUT ABOVE

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nHKSzjRM
    
 Further company coverage:  1029.HK  
   


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