30 Oct 2015 15:43
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Don't have an account? Click here to register.Rurelec secures new short-term loan facility
Thu, 18th Feb 2016 10:00
(ShareCast News) - Rurelec has entered into and fully drawn down a short-term loan facility with Bridge Properties for £850,000.The company, which owns, operates and develops power generation capacity, said the proceeds are for working capital and the repayment of the Radix Investments UK loan and accrued interest.Rurelec said the loan, due for repayment on 30 June with interest charged at 1% per month, is to allow the board time to source further, long-term funding.There is no guarantee long-term funding will be available and the group said its cash position continues to be "extremely tight"."The directors are exploring how best to arrange for the company to benefit from the cash generated by the asset in Argentina in which it has a 50% interest."At 1011 GMT, Rurel shares were up 9.1% to 1.20p.
More News
20 Oct 2015 09:36
20 Oct 2015 08:08
Rurelec shares retreat as majority owner Sterling calls in administrators
(ShareCast News) - Investors took flight as AIM-listed Rurelec brought attention to the fact that that majority shareholder Sterling Trust Limited had gone into administration. Sterling Trust owns 303m shares, or 53.99% of Rurelec, which is focused on the Latin American electricity generation market
Read more13 Oct 2015 09:00
Rurelec's non-exec directors set to step down
(ShareCast News) - Colin Emson has resigned from his role as director of Rurelec, the power generation asset developer said on Tuesday. Emson, currently the group's non-executive chairman, said his decision was aimed at allowing the new executive board to take "whatever measures are appropriate for
Read more13 Oct 2015 08:41
20 Aug 2015 13:46
20 Jul 2015 13:26
Rurelec in negotiations with Radix over loan facility
(ShareCast News) - Power generation assets developer Rurelec said it was in talks with Radix Investment UK to reach an agreement over a loan facility. Late in December last year, the London-listed group said it was in default of the loan facility and it was now in negotiations to agree a settlement
Read more20 Jul 2015 08:55