Business
Update regarding the OTP Bank Loan
Update regarding the OTP Bank Loan.
About this update from Ukrproduct Group Ltd
[{"type":"text","content":"\n \nRNS Number : 8903Y Ukrproduct Group Ltd 11 December 2017 \n\n \n \n 11 December 2017\n \nUkrproduct Group Ltd\n(\"Ukrproduct\" or the \"Company\")\n \nUpdate regarding the OTP Bank Loan\n \nFurther to the announcement made on 11 September 2017, Ukrproduct is pleased to confirm the agreement of a further variation to the loan from OTP Bank (originally made on 30 May 2011) (\"OTP Loan\"). Under this variation agreement, signed on 8 December 2017, the principal loan repayment date has been set to 8 March 2018 (\"Variation Agreement\"). All other principal terms of the loan agreement remain unchanged. The principal amount outstanding under the loan remains at Ukrainian Hyrvnia (UAH) 32.3 million. \nUkrproduct and OTP Bank have agreed in principle to a 3 year extension to the OTP Loan, which requires new terms to be agreed and documentation to be put in place. The Company and OTP Bank believe that the Variation Agreement provides the necessary time to put the 3 year extension into place. \nFurther announcements will be made in due course. \nFor further information contact:\n \n \n\n\n\n\nUkrproduct Group Ltd\n\n\n \n\n\n\n\nJack Rowell, Non-Executive Chairman\n\n\nTel: +380 44 232 9602 \n\n\n\n\nAlexander Slipchuk, Chief Executive Officer\n \n\n\nwww.ukrproduct.com \n\n\n\n\nStrand Hanson Limited\n\n\n \n\n\n\n\nNominated Adviser and Broker\nRory Murphy, James Dance, Jack Botros\n\n\nTel: +44 20 7409 3494\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe information conta...