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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Monterrico | LSE:MNA | London | Ordinary Share | GB0031695009 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 82.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMMNA RNS Number : 1395N Monterrico Metals PLC 11 February 2009 Monterrico Metals plc ("Monterrico" or the "Company") 11 February 2009 Loan Facility Agreement Monterrico Metals plc (AIM : MNA) announces that it has entered into a further loan facility agreement (the "Loan Facility") with Xiamen Zijin Tongguan Investment Development Co., Ltd ("Zijin Consortium"), the majority shareholder of the Company. The previous loan agreements with Zijin Consortium of up to GBP2 million, US$8 million and US$10 million (which was revised to US$5 million plus GBP 2.55 million), were extended to be repaid on 30 April 2009, 3 July 2009 and 2 February 2010 respectively. The board is in discussions with the Zijin Consortium to extend the term of the loans due to expire this year. The Loan Facility is for an aggregate amount of up to US$5 million at an interest rate of not greater than 1 per cent above LIBOR, as published by the British Bankers Association (BBA). The loan is repayable on 9 February 2010. The proceeds from the Loan Facility, along with the Company's existing cash balances, will be used to meet the Company's anticipated working capital needs this year. The Loan Facility constitutes a related party transaction for the purposes of the AIM Rules. The Directors of Monterrico (other than Fusheng Lan, Wenzhou Huang and Xiaodong Huang who are also directors of the Zijin Consortium, and Guobin Hu, who is General Manager of Zijin Consortium) consider, after having consulted with Monterrico's nominated adviser, Evolution Securities Limited, that the terms of the Loan Facility are fair and reasonable insofar as the Company's shareholders are concerned. Enquiries: For more information please contact: Monterrico Metals plc Susan Li, Finance Director +852 2803 2738 Andrew Bristow, Investor Relations Manager +511 226 3322 EVOLUTION SECURITIES LIMITED (Nominated adviser) +44 20 7071 4300 Rob Collins Barry Saint Adam James Esther Lee EVOLUTION SECURITIES CHINA LIMITED (Financial adviser and broker) +44 20 7220 4850 This information is provided by RNS The company news service from the London Stock Exchange END MSCTBMMTMMMBBJL
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