RE: 6th June6 Jul 2018 22:58
The lender will further receive three performance bonuses:
$50,000 payable if the Company's VWAP exceeds £0.008 for ten consecutive days
$50,000 payable if the Company's VWAP exceeds £0.01 for ten consecutive days
$50,000 payable if the Company's VWAP exceeds £0.0125 for ten consecutive days.
These bonuses will be payable at any time in the next two years that their payment conditions are fulfilled. Â
Andrew Bell, Regency Chairman, comments: "In announcing that we have fulfilled our funding obligations under the Joint Venture Agreement, we take another small step in the gradual building out of our metallurgical coal mining interests in the U.S. We expect to make further announcements in relation to our coal investments, including in the Rosa Mine, shortly. The Loan Note has enabled us to carry out this funding without liquidating our marketable holdings, including our strategic holding in coal bed methane producer Curzon Energy plc."
You have to laugh at Bell sometimes,he is a very funny man.....