Business
Final repayment of EBRD loan
Final repayment of EBRD loan.
About this update from Altyngold Plc
[{"type":"text","content":"\n \nRNS Number : 5052X Altyn PLC 27 November 2017 \n\nAltyn Plc\n(\"Altyn\" or the \"Company\")\n \nFinal repayment of EBRD loan\n \nIn 2012, two of the Company's subsidiaries, TOO GMK Altyn MM and DTOO GRP Baurgold entered into a loan agreement with the European Bank for Reconstruction and Development (\"EBRD\"). \nUnder the loan agreement an amount of USD10 million was advanced to the Company, and was repayable in quarterly instalments from January 2015 to October 2017. \nThe Company is pleased to announce that all obligations and repayments due under this facility were repaid in October 2017. \nWithin 2017, three quarterly capital repayments amounting to USD2.5 million plus interest at 7.5 per cent were made. The repayment of the loan will provide significant cash flow upside for the Company going forward.\n \nAidar Assaubayev, CEO of Altyn Plc commented:\n \n\"The Company is moving forward with its plans, and is pleased that all repayments have been made as agreed with EBRD. This will release significant funds and obligations to enable the Company to pursue its future capital funding needs\". \n \n \n \nFurther Information:\nFor further information please contact:\nAltyn Plc\nRajinder Basra \n+44 (0) 207 932 2456\n \n Blytheweigh (Financial PR) \nTim Blythe/Camilla Horsfall +44 (0) 207 138 3204\n \n \nInformation on the Company \nAltyn Plc (LSE:ALTN) is an exploration and development company, which is listed on the standard segment of the London Stock Exchange.\nTo read more about Altyn Plc please visit our website www.altyn.uk\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCZMMZMKDMGNZM\n ","length":3312,"tagName":"div"}]