Loan Repayment

24 Jul 2007 17:05

Rurelec PLC24 July 2007 Rurelec plc ("Rurelec" or "the Company") Loan Repayment The Board of Directors announces the repayment of the remaining LIBOR+5 percent. loan notes 2011 issued in connection with the Group's acquisition ofEmpresa Guaracachi S.A. ("Guaracachi") in January 2006. The payment to SouthernIntegrated Energy Limited, a wholly-owned subsidiary of the Independent PowerCorporation plc, a company controlled by Rurelec's Managing Director, PeterEarl, consists of US$2,000,000 of principal plus interest to date, amounting toa total of approximately £1.2m. The Directors of Rurelec, other than Peter Earl,having consulted Daniel Stewart & Co, Nominated Adviser consider that the termsof the repayment are fair and reasonable insofar as shareholders are concerned. For further information, please contact: Peter Earl Managing Director Tel. 020 7793 5610 Rurlec plc Nominated Adviser: Daniel Stewart & Company plc Tel. 020 7776 6550 Stewart Dick This information is provided by RNS The company news service from the London Stock Exchange