31st Dec 2021 11:12
(Alliance News) - Prospex Energy PLC said on Friday that it had made interest and loan repayments thanks to the income generated by its El Romeral power plant in Spain.
The London-based gas production and electricity generation investment company with projects in Europe said it has repaid a total of GBP18,765 due on a loan note issued in December 2018.
The next and final interest payment of GBP1,063 and capital repayment of GBP21,445 for the 2018 loan note is due on June 30 next year, following which the loan will have been fully paid down.
The company said it had also paid GBP22,743 in interest due on the 2018 loan note.
A loan note issued in 2021 also had a total of GBP19,464 of interest paid today. The interest is due every six months so the next interest payment falls due on June 30, 2022.
The first capital repayment on this 2021 loan note of GBP107,227 - one-third of the total loan - is due on December 31, 2022.
Chief Executive Mark Routh said: "These interest payments and loan repayments have been made possible by the income generated by the El Romeral power plant in southern Spain in which Prospex owns a 50% share through its shareholding in Tarba Energia. We expect to be expanding the generating capacity at El Romeral during 2022 with the planned infill well drilling campaign, thereby boosting our income."
Shares in Prospex were down 4.4% at 3.25 pence on Friday morning in London.
By Heather Rydings; [email protected]
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