LONDON (Alliance News) - Rurelec PLC Friday said it has entered into a short-term loan agreement with Radix Investment UK Ltd for GBP600,000.
The power generation operator and developer said the facility has been fully drawn down and is repayable at the end of December. It didn't provided the interest that it will pay, if any.
"The facility provides the company with working capital in the short term while the board sources further, long-term funding," Rurelec said.
Shares in Rurelec were trading up 7.5% at 1.18 pence on Friday afternoon.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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