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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Urals EN. | LSE:UEN | London | Ordinary Share | CY0107130912 | ORD USD0.126 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 35.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMUEN
RNS Number : 3590Y
Urals Energy Public Company Limited
02 March 2017
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).
2 March 2017
Urals Energy Public Company Limited
("Urals Energy", the "Company" or the "Group")
New credit facility with KKAPB
The Board of Urals Energy (AIM:UEN), the independent exploration and production company with operations in Russia, is pleased to announce that its subsidiary undertaking, JSC Arcticneft ("Arcticneft"), has entered into a new short-term non-revolving credit facility (the "Loan") with Kamchatcomagroprombank ("KKAPB"). Under the Loan KKAPB will provide a total of 30 million Russian Roubles (representing approximately US$0.52 million at prevailing exchange rates) to Arcticneft, via several tranches.
The principal terms of the Loan are as follows:
Principal: Russian Roubles 30 million (approximately US$515,000)
Term: 31 August 2017
Interest chargeable: 15% on an annualised basis
Security: part of the crude oil produced by Arcticneft
The proceeds of this new Loan will be used by the Company for the general working capital financing of Arcticneft. The first export shipment from Arcticneft is expected in June 2017 and the Company intends to seek additional pre export financing in the coming months.
- Ends -
For further information, please contact:
Urals Energy Public Company Limited Andrew Shrager, Chairman Tel: +7 495 795 Leonid Dyachenko, Chief 0300 Executive Officer Sergey Uzornikov, Chief www.uralsenergy.com Financial Officer Allenby Capital Limited Nominated Adviser and Broker Nick Naylor / Alex Brearley Tel: +44 (0) 20 3328 5656 www.allenbycapital.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCBGGDXDUGBGRD
(END) Dow Jones Newswires
March 02, 2017 05:55 ET (10:55 GMT)
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