Pressure Technologies PLC Receipt of Promissory Note (3012P)
February 17 2021 - 01:00AM
UK Regulatory
TIDMPRES
RNS Number : 3012P
Pressure Technologies PLC
17 February 2021
Pressure Technologies plc
("Pressure Technologies" or "the Group")
Receipt of Promissory Note
Pressure Technologies (AIM: PRES), the specialist engineering
group, is pleased to announce that the outstanding principal of
GBP3.1 million on the Promissory Note, payable under the Framework
Agreement with Greenlane Renewables Inc., Creation Partners LLP and
Brad Douville (the "Framework Agreement") announced on 3 July 2020,
has been repaid in full, together with an interest payment of
GBP0.3 million.
Repayment has been made earlier than the previously announced
Promissory Note final maturity date of 30 June 2021 and concludes
all arrangements made under the Framework Agreement.
The total consideration received by the Group for the disposal
of PT Biogas Holdings Limited in June 2019 is GBP10.1 million. As
previously outlined, the proceeds will be used to reduce the
Group's debt.
ENDS
For further information, please contact:
Pressure Technologies plc Tel: 0330 015 0710
Chris Walters, Chief Executive PressureTechnologies@houston.co.uk
N+1 Singer ( Nomad and Broker) Tel: 0207 496 3000
Mark Taylor / Carlo Spingardi
Houston (Financial PR and Investor Tel: 0204 529 0549
Relations)
Kate Hoare / Anushka Mathew / Ben Robinson
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END
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