17th Feb 2021 14:36
Pressure Technologies PLC - Sheffield, England-based specialist engineering for pressure containment and control - Receives outstanding principal of GBP3.1 million on promissory note in full with an interest payment of GBP300,000 from Greenlane Renewables Inc. Notes the promissory note was payable under the framework agreement announced on July 3 with Greenlane Renewables Inc, Creation Partners LLP and Brad Douville, in which Pressure Technologies sold its entire stake in Greenlane. Says repayment was made earlier than the previously announced promissory note final maturity date of June 30, 2021 and concludes all arrangements made under the framework agreement.
Adds it has now received GBP10.1 million for the disposal of PT Biogas Holdings Ltd in June 2019, which was the total amount agreed. The proceeds will be used to reduce the group's debt.
Current stock price: 105.08 pence
Year-to-date change: down 4.5%
By Zoe Wickens; [email protected]
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