Funds delay 1 Apr 2015 08:06
1 April 2015
Rurelec PLC
("Rurelec" or "the Company")
Further re: Sale of Canchayllo Hydroelectric Plant
Further to the announcement of 2 March 2015, the Company has yet to receive the US $6.6 million net proceeds of the contracted sale of a controlling equity stake in Rurelec's Canchayllo hydroelectric plant in Peru.
The funds are due, and are expected shortly, but have been subject to administrative delays in the release of funds. Accordingly, the Radix loan of £550,000 has yet to be repaid and the Directors are grateful to Radix for their patience in the matter. A further announcement will be made in due course.