31st Oct 2008 14:06
Urals Energy Public Company Limited
('Urals Energy' or the 'Company')
Update on Sberbank negotiations
The Board of Urals Energy announces that negotiations with Sberbank regarding the rearrangement and extension of its loan facilities are ongoing. The Company is fully engaged with Sberbank in a constructive dialogue and, while no formal extension has yet been granted, Sberbank has indicated at this time that it does not intend to put the Company into default.
The Company also continues to consider strategic options for the efficient development of its core assets and to pursue the sale of its non-core assets. It is still intended that these assets will be disposed by end Q1, 2009.
Further announcements will be made in due course.
31 October 2008
Enquiries:
|
Pelham PR |
||
|
Evgeniy Chuikov |
+44(0)20 3008 5506 / +44(0)7894 608 606 |
|
|
Mark Antelme |
+44(0)20 3178 6242 / +44(0)752 5951 011 |
Related Shares:
Urals Energy Plc