14 Jul 2016 07:54
14 July 2016
Uranium Resources plc
("Uranium Resources") or ("the Company")
Extension of Loan Agreements
Uranium Resources, the uranium exploration and development company, is pleased to announce that its major shareholder and strategic investor, Estes Limited ("Estes"), has agreed to extend the terms of all three of its loans to the Company.
Supplementary agreements have been entered into which extend the terms of the US$1 million and the US$300 thousand loan facility agreements until 30 September 2016. Both these loan facilities have been fully drawn down. In addition, the availability period of the US$440 thousand loan facility has been extended to 31 July 2016.
As a substantial shareholder, Estes is a related party of the Company and the extension of the loan terms 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 extension of the loan terms 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 |