(Sharecast News) - HydroDec updated the market on its financing on Tuesday, reporting that since its interim results, its board had continued to explore various options as part of its turnaround programme.
The AIM-traded firm said that during that time, and as it disclosed in the interim results, Andrew Black had continued to support the group, providing cash of around $1.3m (£1m) since 30 June.
Terms for those loans, together with the extension of the existing loans, had yet to be fully agreed, with documentation and full agreement expected to be concluded in January.
Such terms would constitute a related party transaction under AIM Rule 13.
"The company will continue to pursue other financing and strategic options into the early part of 2020, including the refinancing of the Canton plant," the board said in its statement.
"Further announcements will be made in due course."
At 1028 GMT, shares in HydroDec were down 11.11% at 10p.
29 Mar 2019 15:57
HydroDec revenues improve despite feedstock constraints
(Sharecast News) - Industrial oil re-refining group outfit HydroDec saw revenues increase in 2018 despite sales of its premium quality transformer and base oils slipping as a result of feedstock constraints.
Read more