ATC Music Group plc Regulatory News (ATC)

10 Oct 2006 12:01

Summit Resources plc10 October 2006 10 October 2006 SUMMIT RESOURCES PLC (AIM: SUMR) Provision of Second Bridging Finance Facility to Coal Contractors (1991) Inc. The Board of Summit Resources plc ("Summit") today announces that on 4th October2006 Summit entered into a loan agreement to provide Coal Contractors (1991)Inc. ("Coal Contractors") with a second bridging finance facility ("SecondFacility") for the sum of £750,000. The purpose of this Second Facility is to finance civil engineering works beingcarried out to install an anthracite washing plant at Coal Contractors'sStockton Colliery in Pennsylvania, USA. The Second Facility is interest free (save in the case of default) and isrepayable on 01 March 2007. It is secured over certain personal assets(investment portfolio) of a board member of Coal Contractors, and follows anearlier bridging finance facility made available to Coal Contractors for theamount of £400,000 as announced by Summit on 12th September 2006. Contacts: Summit Resources plc: Toby Howell - 020 7932 2427 Ruegg & Co: Gavin Burnell - 020 7584 3663 Hichens Harrison & Co plc: Daniel Briggs - 020 7382 4450 This information is provided by RNS The company news service from the London Stock Exchange