Rurelec PLC Partial Debt Repayment (9849C)

TIDMRUR

RNS Number : 9849C

Rurelec PLC

23 October 2020

23 October 2020

Rurelec PLC

("Rurelec" or the "Company")

Partial Debt Repayment

Further to the announcement of 14 September 2020 (the "Announcement"), the Directors of Rurelec PLC (AIM: RUR) note that Rurelec have received a further US $224,000 by way of partial repayment by Patagonia Energy Limited ("PEL") of the Amended and Restated Loan Notes.

The total balance outstanding on the loan notes is approximately US $20.162 million (split US $14.593 million Rurelec : US $5.569 Basic Energy Limited ("Basic") with the first US $1.29 million of the US $20.162m to be shared 80/20 between Rurelec and Basic Energy Limited, the ultimate shareholders of PEL, and then the balance paid 72:28 thereafter (Rurelec: Basic ). .

There can be no guarantee as to when any further loan repayments will be made. Further updates will be provided in due course.

For further information please contact:

 
 Rurelec PLC               W H Ireland (Nomad & Broker) 
 Simon Morris, Director    Katy Mitchell 
  Andy Coveney, Director    Lydia Zychowska 
 Tel: [phone]     Tel: [phone] 
 

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October 23, 2020 07:00 ET (11:00 GMT)