Rurelec PLC Partial Debt Repayment (9849C)
October 23 2020 - 6:00AM
UK Regulatory
TIDMRUR
RNS Number : 9849C
Rurelec PLC
23 October 2020
23 October 2020
Rurelec PLC
("Rurelec" or the "Company")
Partial Debt Repayment
Further to the announcement of 14 September 2020 (the
"Announcement"), the Directors of Rurelec PLC (AIM: RUR) note that
Rurelec have received a further US $224,000 by way of partial
repayment by Patagonia Energy Limited ("PEL") of the Amended and
Restated Loan Notes.
The total balance outstanding on the loan notes is approximately
US $20.162 million (split US $14.593 million Rurelec : US $5.569
Basic Energy Limited ("Basic") with the first US $1.29 million of
the US $20.162m 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 ). .
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 Katy Mitchell
Andy Coveney, Director Lydia Zychowska
Tel: 020 7549 2839/40 Tel: 020 7220 1666
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