Trans-Siberian Gold PLC Confirmation of Debt Financing (1785Z)
16 Maggio 2019 - 8:00AM
UK Regulatory
TIDMTSG
RNS Number : 1785Z
Trans-Siberian Gold PLC
16 May 2019
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATION OF SUCH JURISDICTION
16 May 2019
Trans-Siberian Gold plc
("TSG", the "Company", or the "Group")
Confirmation of Debt Financing
Trans-Siberian Gold plc (TSG.LN), a low cost, high grade gold
producer in Russia, is pleased to confirm that the Company's wholly
owned subsidiary ZAO Trevozhnoye Zarevo ("TZ") has entered into a
loan facility agreement with VTB Bank ("VTB").
In accordance with the terms of the agreement, as announced on 3
May 2019, VTB will provide TZ with debt facilities (the "New
Facilities") in an amount equal to 800 million (approximately
GBP9.4 million) for a four-year term. The annual interest rate
payable under the New Facilities is 10.7%, in line with market
rates for Rouble denominated loans in Russia, reflecting the
Central Bank of Russia's key lending rate currently standing at
7.75% per annum, and, as of April 2019, the annual rate of
inflation at 5.1%.
As previously announced, the New Facilities are expected to be
utilised by TZ to repay part of its indebtedness to the Company.
The Company will in turn utilise the funds received from TZ to
finance the buyback of 22,894,565 existing shares from two of the
Company's major shareholders; UFG PE Fund I LP and Destin
Investment Management Limited and to pay associated costs and
expenses.
The Board has carefully evaluated financing options available
for the Buyback and has taken into consideration the resulting debt
leverage of the Group, which the Board deems to be a prudent and
optimal long-term capital structure for TSG.
ENDS
Contacts:
TSG
Stewart Dickson +44 (0) 7799 694195
Arden Partners plc
Paul Shackleton / Alex Penney (Corporate
Finance)
Tim Dainton / Fraser Marshall (Equity Sales) +44 (0) 207 894 7000
Hudson Sandler (Financial PR)
Charlie Jack / Katerina Parker +44 (0) 207 796 4133
About TSG
TSG is focused on low cost, high grade mining operations and
stable gold production from its 100% owned Asacha Gold Mine in Far
East Russia. The Company also holds the licence for the development
and exploration of the Rodnikova deposit, one of the largest gold
fields in South Kamchatka.
Additional information is available from the Company's website:
www.trans-siberiangold.com
Market Abuse Regulations
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the
publication of this announcement via Regulatory Information Service
('RIS'), this inside information is now considered to be in the
public domain.
Disclaimer
This announcement contains "forward-looking statements" - that
is, statements related to future, not past, events. In this
context, forward-looking statements often address our expected
future business and financial performance, and often contain words
such as "expects," "anticipates," "intends," "plans," "believes,"
"seeks," "should" or "will." Forward-looking statements by their
nature address matters that are, to different degrees, uncertain.
For us, uncertainties arise from the behaviour of financial and
metals markets, fluctuations in interest and/or exchange rates and
metal prices; and from numerous other matters of national, regional
and global scale, including those of a political, economic,
business, competitive or regulatory nature. These uncertainties may
cause our actual future results to be materially different that
those expressed in our forward-looking statements.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
AGREAXSSFEDNEFF
(END) Dow Jones Newswires
May 16, 2019 02:00 ET (06:00 GMT)
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