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24 Dec 2019 07:00
24 December 2019
Hydrodec Group plc
("Hydrodec", the "Company" or the "Group")
Financing update
Since the Company's interim results, the Board has continued to explore various options as part of its turnaround programme.
During this time, and as disclosed in the Company's interim results, Andrew Black has continued to support the Group, providing cash of approximately US$1.3 million since 30 June 2019. Terms for these loans, together with the extension of the existing loans, have yet to be fully agreed with documentation and full agreement expected to be concluded in January 2020. Such terms will constitute a related party transaction pursuant to AIM Rule 13.
The Company will continue to pursue other financing and strategic options into the early part of 2020, including the re-financing of the Canton plant. Further announcements will be made in due course.
For further information, please contact:
Hydrodec Group plc | hydrodec@vigocomms.com |
Chris Ellis, Chief Executive Officer and Interim Executive Chairman |
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Arden Partners plc (Nominated Adviser and Broker) | 0207 614 5900 |
Corporate Finance: Ciaran Walsh, Victoria Hodge Equity Sales: Aimee Kerslake |
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Vigo Communications (PR adviser to Hydrodec) | 020 7390 0240 |
Patrick d'Ancona |
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Chris McMahon |
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Charlie Neish |
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The information communicated in this announcement is inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
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