10th Jul 2020 15:29
(Alliance News) - South America-focused power generator Rurelec PLC on Friday announced it received a further USD280,000 by way of partial repayment by Patagonia Energy Ltd.
The balance outstanding on the loan notes is approximately USD20.9 million with the first USD5 million of repayment shared 80:20 between Rurelec and Basic Energy Ltd, the shareholders of PEL, after which the balance will be paid at 72:28, with Rurelec the former and Basic Energy the latter.
The total amount owed to Rurelec is now USD15.2 million.
Rurelec shares were untraded in London on Friday afternoon, having last closed at 0.58 pence each.
By Greg Roxburgh; [email protected]
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