17 Mar 2017 08:18
Uranium Resources plc
("Uranium Resources" or "the Company")
Estes Loans
Uranium Resources announces that its major shareholder Estes Limited ("Estes"), has agreed to extend the terms of its loan facilities dated 15 March 2013, 18 March 2014 and 19 February 2015 to 31 May 2017. These loan facilities total US$1.8 million and are fully drawn down.
The Company also announces that the most recent US$50,000 loan facility provided by Estes announced on 12 January 2017 has been increased to US$100,000 and the term has been extended to 30 June 2017.
As a substantial shareholder, Estes is a related party of the Company and the revised loan terms above plus the increased loan facility constitute related party transactions 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 facilities and the increased loan facility are fair and reasonable in so far as the Company's shareholders are concerned.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
**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 |