We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for real-time alerts, custom portfolio, and market movers
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Greka (DI) | LSE:GDL | London | Ordinary Share | KYG411101002 | ORD USD0.00001 (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.30 | 1.10 | 1.50 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMGDL
RNS Number : 9334G
Greka Drilling Limited
02 June 2017
2 June 2017
Greka Drilling Limited
("Greka Drilling" or the "Company")
Debt Facility
Greka Drilling Limited (AIM: GDL), the largest independent and specialized unconventional oil & gas driller in Asia, announces that it has secured a US$2.5 million loan (the "Loan").
The Loan is at an interest rate of 7.0% per annum and is repayable (principal and accrued interest) on 30 November 2018 or, at the option of the lender (the "Option"), between 1 January 2018 and 31 May 2018 through the transfer of the ownership held by the Company of the leases of the 28(th) and 29(th) floors of the office building in Zhengzhou, PRC where its Chinese operational headquarters are based. The net book value of these properties at 31 December 2016 was US$4.9 million and there are bank loans of approximately US$2.9 million secured on these properties. The Company has the option of repaying the Loan prior to the exercise of the Option, thereby redeeming the Option. The proceeds of the Loan will be used as to US$2.0m to pay creditors and US$0.5 million for working capital purposes.
The Loan has been provided by GRECAP Limited, which is controlled by Randeep S. Grewal, a director of the Company. Accordingly, the Loan represents a related party transaction under the AIM Rules for Companies. The Company's directors (with the exception of Randeep S. Grewal who is involved in the transaction) consider, having consulted with the Company's nominated adviser, that the terms of the Loan are fair and reasonable insofar as its shareholders are concerned.
For further information on Greka Drilling, please refer to the Company's website at www.grekadrilling.com or contact:
Sarah Lowther Media Relations +44 (0)20 7016 Greka Drilling 9829 Dr Azhic Basirov / David Jones / Ben Jeynes Nominated Adviser and Broker +44 (0)20 7131 Smith & Williamson 4000
This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUAVNRBKANRAR
(END) Dow Jones Newswires
June 02, 2017 02:00 ET (06:00 GMT)
1 Year Greka Drilling Chart |
1 Month Greka Drilling Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
