TIDMRUR

RNS Number : 9270U

Rurelec PLC

28 November 2019

28 November 2019

Rurelec PLC

("Rurelec" or the "Company")

Partial Debt repayment

Further to the announcement of 21 November 2019 (the "Announcement"), the Directors of Rurelec PLC (AIM: RUR) have now received $0.64 million by way of partial repayment to Rurelec of the PEL Amended and Restated Loan Notes ("Loan Notes") (which total approximately US$24million and the first $5 million of repayments of which are shared approximately 80/20 and then the balance paid 72:28 thereafter (Rurelec: Basic Energy Limited)).

The Loan Notes are payable in accordance with the terms of the Amended And Restated Shareholders Agreement with Basic Energy Limited ("Basic") and Patagonia Energy Limited ("PEL"), and an Umbrella Agreement with PEL, Basic, and others, the details of which are set out in the Announcement.

As also set out in the Announcement, whilst the new agreements determine how funds generated by PEL will be distributed, the timing of any future payments is not certain as it is dependant inter alia on the potential future cash generation ability of EdS and the potential future existence of exchange controls that may restrict the ability of EdS to transmit funds to PEL.

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 
 

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

MSCFEDSSAFUSEFF

(END) Dow Jones Newswires

November 28, 2019 02:01 ET (07:01 GMT)

Grafico Azioni Rurelec (LSE:RUR)
Storico
Da Feb 2024 a Mar 2024 Clicca qui per i Grafici di Rurelec
Grafico Azioni Rurelec (LSE:RUR)
Storico
Da Mar 2023 a Mar 2024 Clicca qui per i Grafici di Rurelec