(Alliance News) - Oracle Power PLC on Wednesday said it has received another GBP50,000 tranche of its loan with Brandon Hill Capital Ltd.
The company is currently developing a combined lignite coal mine and power plant in Pakistan, as well as being a UK energy developer, and has now drawn down GBP100,000 of its Brandon Hill loan.
Oracle Power announced the loan facility at the end of May. It is worth up to GBP250,000 and can be drawn down in monthly increments of GBP50,000. The loan coupon is 12% per annum and interest accrues daily.
Shares in Oracle Power were untraded at 0.32 pence on Wednesday morning.
Oracle Power (ORCP)