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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Rurelec Plc | LSE:RUR | London | Ordinary Share | GB00B01XPW41 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.425 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Electric Services | 0 | -2.24M | -0.0040 | -1.05 | 2.36M |
TIDMRUR
RNS Number : 9270U
Rurelec PLC
28 November 2019
28 November 2019
Rurelec PLC
("Rurelec" or the "Company")
Partial Debt repayment
Further to the announcement of 21 November 2019 (the "Announcement"), the Directors of Rurelec PLC (AIM: RUR) have now received $0.64 million by way of partial repayment to Rurelec of the PEL Amended and Restated Loan Notes ("Loan Notes") (which total approximately US$24million and the first $5 million of repayments of which are shared approximately 80/20 and then the balance paid 72:28 thereafter (Rurelec: Basic Energy Limited)).
The Loan Notes are payable in accordance with the terms of the Amended And Restated Shareholders Agreement with Basic Energy Limited ("Basic") and Patagonia Energy Limited ("PEL"), and an Umbrella Agreement with PEL, Basic, and others, the details of which are set out in the Announcement.
As also set out in the Announcement, whilst the new agreements determine how funds generated by PEL will be distributed, the timing of any future payments is not certain as it is dependant inter alia on the potential future cash generation ability of EdS and the potential future existence of exchange controls that may restrict the ability of EdS to transmit funds to PEL.
For further information please contact:
Rurelec PLC W H Ireland (Nomad & Broker) Simon Morris, Director Katy Mitchell Andy Coveney, Director Lydia Zychowska Tel: 020 7549 2839/40 Tel: 020 7220 1666
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
MSCFEDSSAFUSEFF
(END) Dow Jones Newswires
November 28, 2019 02:01 ET (07:01 GMT)
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