Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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For best results when printing this announcement, please click on the link below: http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20170131:nRSe6159Va RNS Number : 6159V Premier Veterinary Group PLC 31 January 2017 PREMIER VETERINARY GROUP PLC ("PVG", the "Company" or the "Group") "Continued growth in numbers of pets on Premier Pet Care Plan and Loan Note update" London, UK, 3 1 J a n u a r y 2 0 1 7 Premier Veterinary Group plc (LSE: PVG) provides the following update on the number of pets on plan and funding arrangements. Premier Pet Care Plan Customer Growth The Group's recurring revenue streams are driven by the number of pets that are signed up to Premier Pet Care Plan ("PPCP"), a preventative healthcare programme for pets. The number of revenue generating pets on active plans at the end of the fourth quarter of 2016, and in the preceding four quarters, are as follows: 000's As atDec-15 As atMar-16 As atJun-16 As atSept-16 As atDec-16 United Kingdom 99 107 115 121 132 Europe 5 10 14 18 21 US - - - - 1 Total no of fee generating pets on plan 104 117 129 139 154 Overall, the number of pets on plan has increased by 48% in the last 12 months, and is up 11% in the last quarter. Loan Note update As previously announced, the Company entered into unsecured Loan Notes with existing and new investors in the Company (including certain directors and their connected parties) totalling £0.9m with a term of 18 months. In addition, it agreed with Bybrook Finance Solutions Limited ("BFSL") (a company of which Rajan Uppal, an Executive Director of the Company, is sole director and shareholder) for a further tranche with a value of £0.35m which would be irrevocably committed for draw down at the Company's option by 31 January 2017 (the "BFSL Loan Note"). The Company has since negotiated a new loan note that will be drawn down from BFSL. The amount of £0.35m which has been received today has an extended duration of 24 months at the same rate of interest of 1% per month. The BFSL Loan Note will be repayable on 31 January 2019 and has other normal early repayment events including a disposal of a major part of the business or early repayment of other loan notes. In the event of early repayment, the interest for any unexpired period to the end of the full term will become payable. The Company has also concluded that it will no longer take up an overdraft facility it was negotiating with HSBC. For further information, please contact: Premier Veterinary Group plc Tel: +44 (0)117 970 4130 Dominic Tonner, Chief Executive Officer Will Evans, Chief Financial Officer Square1 Consulting Tel: +44 (0)207 929 5599 David Bick/Brian Alexander Note to Editors: PVG's services to third party veterinary practices, through its wholly-owned subsidiary, Premier Vet Alliance Limited (&quo