We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
W Resources Plc | LSE:WRES | London | Ordinary Share | GB00BKQN5R41 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.65 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMWRES
RNS Number : 2628D
W Resources PLC
18 February 2020
18 February 2020
W Resources Plc
("W" or the "Company")
New Loan Facility and Extremadura Grant Update
W Resources Plc (AIM:WRES), the tungsten, tin and gold mining company with assets in Spain and Portugal, has finalised a EUR5m facility with the Spanish bank, Banco Santander, S.A ("Santander") which will be used to repay its existing EUR3m loan from Caja Rural de Extremadura ("Caja Rural") and provide a net EUR2m of additional working capital and liquidity.
The facility allows W to monetise the majority of the EUR5.3m Grant from Junta de Extremadura Government (the "Grant") which the Company had expected to receive in Q1 2020 and is now anticipated to receive by mid-2020. W has met all conditions by which the Grant will be awarded although receipt has been delayed by a combination of the allmineral Aufbereitungstechnik GmbH & Co construction completion delays and the normal review and verification process of the Extremadura government.
The facility interest rate is 3% per annum, payable quarterly, with no amortisation and is secured by a pledge over the rights to the Grant funds. The term of the loan is the earlier of 12 months or the receipt of the proceeds of the Grant funds.
Michael Masterman, Chairman of W Resources commented: " We are pleased to have closed this new facility with Santander which will provide additional flexibility and liquidity at low-cost to the Group. Santander is a leading European bank and we look forward to strengthening our relationship with them. We greatly thank Caja Rural for their interim support of the development of La Parrilla."
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Enquiries:
W Resources Plc Grant Thornton UK LLP Michael Masterman Colin Aaronson / Seamus Fricker T: +44 (0) 20 7193 7463 T: +44 (0) 20 7383 5100 www.wresources.com Joint Broker Joint Broker Turner Pope Investments (TPI) Alternative Resource Capital / Ltd Shard Capital Andy Thacker / Zoe Alexander Alex Wood T: +44 (0) 203 657 0050 T:+44 (0) 207 186 9004 www.turnerpope.com www.altrescap.com Damon Heath T:+44 (0) 207 186 9952 www.shardcapital.com Alma PR Justine James M: +44 (0) 7525 324431 wres@almapr.co.uk
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
UPDKKOBPABKDNBD
(END) Dow Jones Newswires
February 18, 2020 02:00 ET (07:00 GMT)
1 Year W Resources Chart |
1 Month W Resources Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions