(Alliance News) - Miner Pembridge Resources PLC on Wednesday said it has secured loan facilities worth GBP1.7 million from Chief Executive & Chair Gati Al-Jebouri.
Al-Jebouri has agreed to provide a convertible loan of GBP1 million to the company for general working capital purposes. The loan pact also provided a further GBP700,000 to the company.
The loan expires on October 25, 2021, and bears interest at an annual rate of 8%, to be paid in arrears on the last day of each month.
Pembridge Resources shares are currently suspended from trading in London.
By Tapan Panchal; tapanpanchal@alliancenews.com
Copyright 2019 Alliance News Limited. All Rights Reserved.