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10 Jul 2020 14:50
10 July 2020
Rurelec PLC
("Rurelec" or the "Company")
Partial Debt repayment
Further to the announcement of 6 March 2020 (the "Announcement"), the Directors of Rurelec PLC (AIM: RUR) note that Rurelec have received a further US $280,000 by way of partial repayment by Patagonia Energy Limited ("PEL") of the Amended and Restated Loan Notes.
The balance outstanding on the loan notes is approximately US $20.92 million with the first US $5 million of repayment shared 80/20 between Rurelec and Basic Energy Limited, the ultimate shareholders of PEL, and then the balance paid 72:28 thereafter (Rurelec: Basic Energy Limited). The total amount owing to Rurelec is now US $15.2 million.
There can be no guarantee as to when any further loan repayments will be made. Further updates will be provided in due course.
For further information please contact:
Rurelec PLC | W H Ireland (Nomad & Broker) |
Simon Morris, Director Andy Coveney, Director | Katy Mitchell Lydia Zychowska |
Tel: 020 7549 2839/40 | Tel: 020 7220 1666 |
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