Bridge Properties Limited Loan Repayment

Rurelec

27/02/2019 15:50

RNS Number : 3266R

Rurelec PLC

27 February 2019

 

27 February 2019

 

Rurelec PLC

 

("Rurelec" or the "Company")

 

Bridge Properties (Arena Central) Limited Loan Repayment

 

 

Further to the announcement of 25 January 2018, the Directors of Rurelec PLC (AIM: RUR) announce that today they made a principal repayment of £200,000 on the remaining temporary loan facilities provided by Bridge Properties (Arena Central) Limited. The amount of principal now outstanding is £822,260.96. The remaining outstanding facility is due on 30 June 2019. Rurelec envisages making further repayments in the coming months.

 

The management of Energia del Sur, S.A. ("EdS") has notified Rurelec PLC that they intend repaying the outstanding loan owed to Rurelec Project Finance Limited ("RPFL") in full by 30 June 2019. The current outstanding amount owed is US $687,000.

 

With the EdS plant back up to full operation, EdS management has projected that in Q3/Q4 2019 once the RPFL debt has been fully repaid it will commence the repayment of the unsecured debt owed to Patagonia Energy Limited, the joint venture company which owns EdS and in which Rurelec has a 50% share.

 

For further information please contact:

 

Rurelec PLC
W H Ireland (Nomad & Broker)
Simon Morris, Director
Andy Coveney, Director
Katy Mitchell
Chris Viggor
Tel: 020 7025 8026/8
Tel: 020 7220 1666

 

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