Repayment of Loans

RNS Number : 1564U

Craven House Capital PLC

21 December 2012

 



21 December 2012

Craven House Capital Plc

(the "Company")

Repayment of Loans

The Company today announces that it has received US$116,667 from Minera Mapsa SA. ("Mapsa") in respect of repayment in full of the outstanding convertible loan and accrued interest (accrued at a rate of 8 per cent. per annum) previously provided to Mapsa by the Company, as announced on 8 November 2010. The Company has also received US$700,000 from Planteman SA ("Planteman") in respect of repayment in full of the outstanding convertible loan and accrued interest (also accrued at a rate of 8 per cent. per annum) provided to Planteman by the Company, as announced on 2 November 2010.

Both Mapsa and Planteman have opted to repay the loans plus interest as market conditions continue to remain unsuitable in both the US and UK for their intended IPOs.

The Company expects to use the cash received from the repayment of these loans to pay down debt.

For further information please contact:

Craven House Capital Plc	Alexandra Eavis	07590 831 323
Daniel Stewart & Company (Nominated Adviser and Broker)	Antony Legge / James Thomas	020 7776 6550

www.cravenhousecapital.com 

 

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