5 Oct 2017 15:21
This announcement contains inside information
NATURE GROUP PLC
("Nature Group" or the "Company")
Director Loan
Nature Group PLC (AIM:NGR), the provider of port reception facilities and waste treatment solutions for the oil, marine and process industries, announces that it has entered into a Loan Agreement (the "Loan Agreement") with Andreas Drenthen, the CEO of Nature Group, pursuant to which Mr Drenthen has made available a loan of €100,000 to Nature International Slop Disposal BV ("NISD"), a wholly owned subsidiary of the Company (the "Loan"). Under the terms of the Loan Agreement, no interest is payable by the Company or its subsidiaries in respect of the Loan, which is repayable by the Company three months from today's date, unless otherwise agreed. Nature Group will act as guarantor in respect of the Loan.
As announced in the Company's interim results for the period to 30 June 2017, the Company's financial position is being actively monitored by the directors and it is currently in negotiations with a number of parties about the immediate financing, structure and strategic direction of the business. The purpose of the Loan is to provide short term liquidity to allow the Company to satisfy a number of near-term payment obligations whilst those negotiations are progressed and the directors of the Company continue to implement further operational measures to improve the financial position of, and outlook for, the Company.
Berend van Straten, Chairman of Nature Group, commented:
"We are very grateful to Andreas for providing this short term loan which will enable the Board to continue to focus its efforts on creating value and strengthening the long term prospects of the Company."
For further information:
For further information contact:
Nature Group PLC
Andreas Drenthen, CEO Tel: + 31 653261484
Berend van Straten, Chairman Tel: + 31 626805605
Cenkos Securities plc
Neil McDonald Tel: +44 (0)131 220 9771 / +44 (0)207 397 1953
Beth McKiernan Tel: +44 (0)131 220 9778 / +44 (0)207 397 1950
Nature Group is traded on the AIM market, (ticker: NGR). www.ngrp.com