URA Ura Holdings

TIDMURA

RNS Number : 0699U

Uranium Resources PLC

12 January 2017

Uranium Resources plc

("Uranium Resources" or "the Company")

Share Price Movement and Estes Loans

Uranium Resources notes the recent rise in the Company's share price. The Company continues to rely on the financial support of its major shareholder Estes Limited ("Estes") and provides the following update on the loan arrangements with Estes.

Estes has agreed to extend the terms of its loan facilities dated 15 March 2013, 18 March 2014 and 19 February 2015 to 15 March 2017. These loan facilities total US$1.8 million and are fully drawn down.

The Company is also pleased to announce that Estes has agreed to provide a further unsecured term loan facility of US$50,000. This facility is for working capital purposes, is available until 15 March 2017 and bears interest at LIBOR.

The Company continues to investigate options for the development of its Mtonya project in Tanzania.

As a substantial shareholder, Estes is a related party of the Company and the revised loan terms above plus the new loan facility constitute related party transactions as defined by Rule 13 of the AIM Rules for Companies. The independent directors, being Alex Gostevskikh, Andrew Lewis, James Pratt, and Mark Purits, having consulted with Northland Capital Partners Limited, the Company's nominated adviser, consider that the revised terms of the loan facilities and the new loan are fair and reasonable in so far as the Company's shareholders are concerned.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

**ENDS**

For further information please visit www.uraniumresources.co.uk or contact:

 
 Alex Gostevskikh   Uranium Resources   Tel: +1 778 938-7631 
                     plc 
 Matthew Johnson    Northland Capital        Tel: +44 (0)203 
  / David Hignell    Partners Ltd                   861 6625 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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