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LONDON (Alliance News) - Power generation provider Rurelec PLC saw its shares plunge lower in early trade on Wednesday after the company said its USD12 million bridging loan facility has been suspended.
The company said the facility has been suspended pending clarification from its lender on the security and repayment of the loan, should it be drawn.
Rurelec the facility has, therefore, not been drawn, but said it has a number of alternative financing options should it not be reinstated.
Shares in Rurelec were down 25% to 1.985 pence on the news, one of the worst performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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