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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 |
RNS Number:2660N Monterrico Metals PLC 04 February 2008 ("Monterrico" or the "Company") AIM: MNA Loan Facility Agreement for Monterrico London: 4 February, 2008: Monterrico announces that on 4 February 2008 it 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 Loan Facility is for an aggregate amount of up to US$10 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 4 February 2009. At the option of the Company the whole or part of the loan may be converted into ordinary shares in the Company ("Ordinary Shares") at a conversion price of the lower of (i) 350 pence per Ordinary Share and (ii) the average mid-market price of an Ordinary Share over the three business days preceding the date of conversion. The proceeds from the Loan Facility will be used to meet the working capital needs of the Company for 2008. The Loan Facility constitutes a related party transaction for the purposes of the AIM Rules. The Directors of Monterrico (other than Shan Shan (Susan) Li, 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, Ambrian Partners, that the terms of the Loan Facility are fair and reasonable insofar as the Company's shareholders are concerned. Enquiries: Monterrico Metals plc Tel: + 44 20 7776 2900 Richard Ralph (Non-Executive Chairman) Susan Connolly (Investor Relations Manager) Ambrian Partners Limited Tel: + 44 20 7776 6421 Tim Goodman This information is provided by RNS The company news service from the London Stock Exchange END MSCEAKALELLPEFE
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