1st Apr 2015 07:30
LONDON (Alliance News) - Rurelec PLC Wednesday said it has not yet received the USD6.6 million net proceeds due on the sale of a controlling interest in its Canchayllo hydroelectric plant in Peru, sending its shares lower.
Rurelec said it expects the funds to be sent shortly and said they have been subject to administrative delays.
As a result, the Radix loan to the company of GBP550,000 has not yet been repaid.
Rurelec shares were down 10% to 3.6 pence in early trade, one of the worst performers in the AIM All-Share index.
By Sam Unsted; [email protected]; @SamUAtAlliance
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