RE: offer21 Apr 2023 20:32
From this Jan. Must be worth 10 million even in Argentina?
There has, however, been continued interest in recent months for the Company's major assets which Rurelec is seeking to dispose. In particular, the directors of Rurelec are in discussions to agree heads of terms with an overseas counterparty to dispose of the Company's ultimate interest in EdS in Argentina, which if consummated in the anticipated timeframe could resolve the uncertainty surrounding the Company's working capital position. It should be noted that, depending on any future negotiated terms, any disposal of the interest in Argentina is likely to be considered a fundamental disposal by the Company pursuant to AIM Rule 15 of the AIM Rules for Companies. That being the case, any such disposal would be conditional on shareholder approval and be accompanied by a publication of a shareholder circular. In addition, it is possible that following such disposal, the Company would be regarded as an AIM Rule 15 cash shell