(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.
8 Sep 2016 14:54
Hydrodec becomes first re-refining oil producer to receive carbon credits
(ShareCast News) - Hydrodec, a specialist re-refiner of industrial oils, has received approval from the American Carbon Registry (ACR) to receive carbon credits for its oil. Typically, carbon credits permits assigned to a firm allow it to produce a certain amount of emissions which can then be trade
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