11th Sep 2019 07:00
Altyn Plc
("Altyn" or the "Company")
Funding update
Altyn plc (the Company) is pleased to announce that its application for a loan of US$17m (6.5bln Tenge) from Kazakh Bank JSC “Bank Center Credit” (BCC) has been approved by the bank’s credit committee.
The loan is repayable in instalments over a term of seven years and bears interest at 6%.
The loan will be used to ramp up production at Sekisovskoye and to achieve the Company’s current development plans.
The Company will update shareholders as plans progress.
Altyn’s CEO Aidar Assaubayev commented:
“The aim has always been to obtain the necessary finance at terms that are competitive and in the best interest of shareholders. After exploring a number of opportunities and an extensive due diligence period we are very pleased to update our shareholders on the funding received. This funding will, I am confident, provide a springboard for future growth. ”
Further Information:
For further information please contact:
Altyn PlcRajinder Basra+44 (0) 207 932 2456
VSA Capital LimitedAndrew Monk/Andrew Raca +44 (0) 20 3005 5000
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.
Information on the Company
Altyn Plc (LSE:ALTN) is an exploration and development company, which is listed on the standard segment of the London Stock Exchange.
To read more about Altyn Plc please visit our website www.altyn.uk
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