26 Feb 2018 07:09
Altyn Plc("Altyn" or the "Company")
Proposed $15m bond finance to accelerate production
The Company is pleased to announce that its subsidiary MC Baurgold LLP has secured an underwriting agreement with JSC Freedom Finance, a subsidiary of Freedom Holding Corp. to raise c. US$15m, through the issue of five-year non-convertible tenge-denominated bonds secured by the assets of the Company, with a coupon rate of 8% payable semi-annually in arrears.
The Company intends to use the proceeds of the bond issuance to finance the purchase of underground equipment in line with the Company’s plans to significantly ramp up production. The Company will update shareholders with further information as financing progresses.
Aidar Assaubayev, CEO of Altyn Plc commented:
“This is an important point in the development of the Company. Completion of the bond issuance will allow the Company to accelerate the achievement of target production capacity levels, transforming the Company into a significant gold producer in Kazakhstan.”
Further Information:
For further information please contact:
Altyn PlcRajinder Basra+44 (0) 207 932 2456
VSA Capital (Financial Adviser and Broker)Andrew Monk/Andrew Raca+44 (0) 20 3005 5000
Blytheweigh (Financial PR)Tim Blythe/Camilla Horsfall +44 (0) 207 138 3204
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.
Information on the Company
Altyn Plc (LSE:ALTN) is an exploration and development company, which is listed on the standard segment of the London Stock Exchange.
To read more about Altyn Plc please visit our website www.altyn.uk
Freedom Holding Corp. is a US corporation providing international brokerage, banking, and financial services to meet the demands of a growing number of investors in Kazakhstan, Russia, Ukraine, Kyrgyzstan and Cyprus that desire financial services integration and greater access to the financial opportunities, relative stability, and integrity of securities markets all over the world.
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Altyngold (ALTN)