Business
Update re Director Loan
Update re Director Loan.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n \nRNS Number : 5073B Anglo Asian Mining PLC 10 January 2018 \n\nAnglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining\n \n10 January 2018\nAnglo Asian Mining plc\nUpdate re Director Loan\n \nAnglo Asian Mining plc (\"Anglo Asian\" or the \"Company\"), the AIM listed gold, copper and silver producer focused in Azerbaijan, announces that Reza Vaziri, President and Chief Executive Officer of Anglo Asian, has agreed to extend the term of his loan facility (the \"Loan Facility\" or the \"Loan\") to the Company.\n \nThe amount of the loan facility from Reza Vaziri is $4.0 million and the term of the loan was until 8 January 2018. The amount currently outstanding under the facility is $3.9 million. The interest on the loan is at a rate of 10 per cent. per annum. The term of the loan has been extended for one year until 8 January 2019. The interest rate on the loan has been reduced to 7 per cent., with all other terms of the loan remaining unchanged.\nAs Mr. Vaziri is a director of the Company, the Loan constitutes a related party transaction pursuant to AIM Rule 13. The independent directors of Anglo Asian (being Khosrow Zamani, Richard Round, John H. Sununu and John Monhemius) consider, having consulted with the Company's Nominated adviser, SP Angel Corporate Finance LLP, that the terms of the Loan are fair and reasonable insofar as its shareholders are concerned.\nMarket Abuse Regulation (MAR) Disclosure\nCertain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.\n \n**ENDS**\n \n \n \nFor further information please visit www.angloasianmining.com or contact:\n \n\n\n\n\nReza Vaziri\n\n\nAnglo Asian Mining plc\n\n\nTel: +994 12 596 3350\n\n\n\n\nBill Morgan\n\n\nAnglo Asian Mining plc\n\n\nTel: +994 502 910 400\n\n\n\n\nStephen Westhead\n\n\nAnglo Asian Mining plc\n\n\nTel: +994 502 916 894\n\n\n\n\nEwan Leggat\n\n\nSP Angel Corporate Finance LLP\nNominated Adviser and Broker\n\n\nTel: +44 (0) 20 3470 0470\n\n\n\n\nSoltan Tagiev\n\n\nSP Angel Corporate Finance LLP\n\n\nTel + 44 (0) 20 3470 0470\n\n\n\n\nSusie Geliher \n\n\nSt Brides Partners Ltd\n\n\nTel: +44 (0) 20 7236 1177\n\n\n\n\nLottie Wadham\n\n\nSt Brides Partn...