2nd Feb 2015 09:38
LONDON (Alliance News) - Rurelec PLC on Monday said it has agreed to extend the draw-down date for the balance of its financing facility from Radix Investment UK Ltd.
Rurelec said the extension of the draw-down date will allow time to satisfy some matters in relation to the documentation of the loan.
Rurelec said in December it had signed short-term financing deal from Radix worth GBP3.05 million.
The facility, which had been partly drawn in December, with the balance previously set to be drawn in January, permits Rurelec to make final payment to IPSA Group PLC under the June 2013 contract to acquire two Westinghouse Siemens 701DU gas turbines for its Illapa generation project in Chile.
Shares in Rurelec were untraded on Monday, having last traded at 3.49 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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