Share Name Share Symbol Market Type Share ISIN Share Description
Altyn Plc LSE:ALTN London Ordinary Share GB00B015PT76 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 0.575p 0.50p 0.60p - - - 5,490,688 15:42:42
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 15.2 -3.1 -0.1 - 13

Altyn Plc Funding Update

19/03/2019 2:37pm

UK Regulatory (RNS & others)


Altyn (LSE:ALTN)
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19 March 2019

 

Altyn Plc

 

("Altyn" or the "Company")

 

Funding update

 

Since the last funding update the management have been working to obtain the necessary funds to provide the investment capital to increase production. After conducting detailed and lengthy due diligence and exploring a number of possibilities either, the timing, terms of the repayments or other factors resulted in the funds ultimately not being taken up.

 

The Company is pleased to announce that it has now reached an agreement with Kazakh bank, JSC "Bank CenterCredit" (BCC), and as a first step has entered into an unsecured loan agreement for a sum of KZT 350m (approximately USD 950,000) to Altyn's subsidiary company "Altyn MM LLP" that owns and operates the processing plant at the Sekisovskoye gold deposit.

 

The Company is in advanced talks with BCC for the provision of a larger amount of funding. Shareholders will be updated as negotiations progress.

 

In the meantime, Altyn's major shareholder, African Resources Limited, has committed to provide an additional 400m KZT (USD 1.1m) unsecured loan towards the acquisition of underground mining machinery. The Company is pleased with African Resources Limited's continued support for the Company with the aim of boosting production further.

 

Further Information:

 

For further information please contact:

 

Altyn Plc

 

Rajinder Basra

 

+44 (0) 207 932 2456

 

VSA Capital Limited

 

Andrew Monk/Andrew Raca +44 (0) 20 3005 5000

 

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.

 

Information on the Company

 

Altyn Plc (LSE:ALTN) is a gold-mining exploration and development company, which is listed on the main board, standard segment of the London Stock Exchange.

 

To read more about Altyn Plc please visit our website www.altyn.uk

 
 
 

View source version on businesswire.com: https://www.businesswire.com/news/home/20190319005601/en/

 
This information is provided by Business Wire 
 
 

(END) Dow Jones Newswires

March 19, 2019 10:37 ET (14:37 GMT)

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