Shaft Sinkers Says Hillside Demands Immediate Loan Repayment

LONDON (Alliance News) - Shaft Sinkers Holdings PLC said Friday it has received notice from Hillside International Holdings Ltd calling for it to immediately repay its GBP5 million loan.

Shares in Shaft Sinkers were suspended from trading in February as the company declared there was "no value remaining" in the company. It had been trying to secure necessary funding in order to provide funds for its operating subsidiaries to protect its operating contracts.

Shaft Sinkers said Friday it would make further announcements as soon as possible.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

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