22 Apr 2014 10:39
22 April 2014
Kemin Resources Plc
("Kemin" or the "Company")
Repayment of Zadessa Loan
Kemin (AIM: KEM) hereby notes that repayment of the US$306,000 loan extended to its Kazakh subsidiary, Kazakh-Russian Mining Company LLP, by Zadessa Limited ("Zadessa") may not have been deferred to 25 December 2014 as previously disclosed in the Company's AIM Admission Document dated 4 February 2013, as a result of the deferral not being authorised by an appropriate employee or agent of Zadessa.
Kemin is therefore currently in discussions with Zadessa to repay the loan in short order and has sufficient resources under its working capital facility and related arrangements with Amrita Investments Limited to do so.
The Company is also investigating the circumstances of the deferral and intends to pursue legal action against the persons involved at that time.
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For further information please visit www.keminresources.com or contact:
Kemin Resources PlcKen Crichton
| +201 007 666 118 |
Strand Hanson Limited (Nomad, Financial Adviser and Broker)Andrew Emmott / Ritchie Balmer
| +44 (0) 20 7409 3494
|
Blytheweigh (Financial PR)Tim Blythe / Camilla Horsfall | +44 (0) 20 7138 3205 |