24 Aug 2016 16:37
24 August 2016
Uranium Resources plc
("Uranium Resources") or ("the Company")
Estes Loan Extension
Uranium Resources, the uranium exploration company, announces that its major shareholder and strategic investor, Estes Limited ("Estes"), has agreed to extend the term of its loan facility dated 19 February 2015. The Company has entered into a supplementary agreement with Estes which extends the term of the US$440,000 loan facility to 30 September 2016. There are no other changes to the terms of the loan. This facility has been fully drawn down.
As a substantial shareholder, Estes is a related party of the Company and the increase of the loan amount constitutes a related party transaction as defined by Rule 13 of the AIM Rules for Companies. The independent directors, being Alex Gostevskikh, Andrew Lewis, James Pratt, and Mark Purits, having consulted with Northland Capital Partners Limited, the Company's nominated adviser, consider that the revised terms of the loan facility dated 19 February 2015 are fair and reasonable in so far as the Company's shareholders are concerned.
**ENDS**
For further information please visit www.uraniumresources.co.uk or contact:
Alex Gostevskikh | Uranium Resources plc | Tel: +1 778 938-7631 |
Matthew Johnson / David Hignell | Northland Capital Partners Ltd | Tel: +44 (0)203 861 6625 |