25th Jan 2019 10:24
LONDON (Alliance News) - Rurelec PLC said Friday that it has repaid GBP200,000 towards the remaining loan provided by Bridge Properties (Arena Central) Ltd, and the principal outstanding now stands at GBP1 million.
Shares in the power generator were up 28% at 0.90 pence each in morning trade in London.
The loan facilities are due on June 30, and the company expects to make further repayments in the coming months. In December, it made GBP400,000 interest payment towards the loan and now has no interest outstanding on the loan.
Earlier in January, Rurelec reported completion of a major overhaul of the 136 megawatt southern Patagonian power plant in Argentina. The company owns 50% of Energia del Sur, which in turn owns 100% of the Argentinan power plant.
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