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Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally
Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globallyView Video

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  4. Debt Facility

Debt Facility

13 Mar 2008 15:08

Formation Group PLC13 March 2008 Formation Group PLC ("Formation" or the "Company") Debt Facility The Company confirms that it has now entered into a debt facility agreement withBank of Scotland (Ireland) Ltd for £8,000,000 (the "Facility") of which£6,000,000 has been drawn down to repay in full the loan made by Impala HoldingsLtd announced on 3rd March 2008. The Facility is repayable by 28 February 2011, or earlier if certain mandatoryrepayment events (as defined in the Facility agreement) occur. Interest willaccrue on the Facility at a rate of 2% above LIBOR. For more information please contact: Formation Group PLCMike Wallwork, T: 07795 613844Communications Director WH Ireland LimitedKaty Mitchell T: 0161 832 2174 This information is provided by RNS The company news service from the London Stock Exchange

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