11th May 2016 07:00
Tengri Resources
("Tengri" or the "Company")
Disposal Update
Tengri Resources (AIM: TEN), provides the following update regarding the disposal (the "Disposal") of Kami Associates Limited and Tatiana Limited to Socagest SA ("Socagest") which is currently unconditional subject only to the receipt of $5m being the amount due from Socagest pursuant to the sale agreement (the "Completion Amount").
Socagest have informed Tengri that they wish to pay the Completion Amount pursuant to the following deferred schedule:
Amount | Date |
$1,500,000 | 11/05/2016 |
$500,000 | 12/05/2016 |
$500,000 | 13/05/2016 |
$500,000 | 17/05/2016 |
$500,000 | 23/05/2016 |
$500,000 | 26/05/2016 |
$1,000,000 | 31/05/2016 |
Tengri has accepted this proposal. As previously announced, the Disposal will only become unconditional once the full Completion Amount has been received.
For further information, please contact:
Tengri Resources | |
Peter Moss | +44 20 3301 9346 |
finnCap Ltd (Nomad) | |
Christopher Raggett/Grant Bergman/James Thompson | +44 20 7220 0500 |
Peterhouse Corporate Finance Limited (Broker) | |
Charles Goodfellow | +44 20 7469 0936 |
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