14 Sep 2020 16:39
14 September 2020
Rurelec PLC
("Rurelec" or the "Company")
Partial Debt Repayment
Further to the announcement of 10 July 2020 (the "Announcement"), the Directors of Rurelec PLC (AIM: RUR) note that Rurelec have received a further US $384,000 by way of partial repayment by Patagonia Energy Limited ("PEL") of the Amended and Restated Loan Notes.
The balance outstanding on the loan notes is approximately US $20.442 million with the first US $1.57 million of the remaining US $20.442m to be shared 80/20 between Rurelec and Basic Energy Limited, the ultimate shareholders of PEL, and then the balance paid 72:28 thereafter (Rurelec: Basic Energy Limited). The total amount owing to Rurelec is now US $14.817 million.
There can be no guarantee as to when any further loan repayments will be made. Further updates will be provided in due course.
For further information please contact:
Rurelec PLC | W H Ireland (Nomad & Broker) |
Simon Morris, Director Andy Coveney, Director | Katy Mitchell Lydia Zychowska |
Tel: 020 7549 2839/40 | Tel: 020 7220 1666 |
Rurelec (RUR)