REG - Rurelec PLC - Partial Debt Repayment

RurelecAnnouncement

10/07/2020 14:55

RNS Number : 7163S
  
Rurelec PLC
  
10 July 2020
  
 

10 July 2020
 
Rurelec PLC
("Rurelec" or the "Company")
 
Partial Debt repayment 
 
 
Further to the announcement of 6 March 2020 (the "Announcement"), the Directors of Rurelec PLC (AIM: RUR) note that Rurelec have received a further US $280,000 by way of partial repayment by Patagonia Energy Limited ("PEL") of the Amended and Restated Loan Notes. 
 
The balance outstanding on the loan notes is approximately US $20.92 million with the first US $5 million of repayment shared 80/20 between Rurelec and Basic Energy Limited, the ultimate shareholders of PEL, and then the balance paid 72:28 thereafter (Rurelec: Basic Energy Limited). The total amount owing to Rurelec is now US $15.2 million.
 
There can be no guarantee as to when any further loan repayments will be made.  Further updates will be provided in due course.
 
For further information please contact:
 



Rurelec PLC


W H Ireland (Nomad & Broker)




Simon Morris, Director
Andy Coveney, Director


Katy Mitchell
Lydia Zychowska




Tel: 020 7549 2839/40


Tel: 020 7220 1666



 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
  END
 
 
MSCSFAFDSESSELW