Uranium Resources PLC Estes Loans (7935Z)
March 17 2017 - 3:18AM
UK Regulatory
TIDMURA
RNS Number : 7935Z
Uranium Resources PLC
17 March 2017
Uranium Resources plc
("Uranium Resources" or "the Company")
Estes Loans
Uranium Resources announces that its major shareholder Estes
Limited ("Estes"), has agreed to extend the terms of its loan
facilities dated 15 March 2013, 18 March 2014 and 19 February 2015
to 31 May 2017. These loan facilities total US$1.8 million and are
fully drawn down.
The Company also announces that the most recent US$50,000 loan
facility provided by Estes announced on 12 January 2017 has been
increased to US$100,000 and the term has been extended to 30 June
2017.
As a substantial shareholder, Estes is a related party of the
Company and the revised loan terms above plus the increased 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 increased loan facility 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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