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Petropavlovsk Plc (POG)

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Monday 13 December, 2010

Petropavlovsk Plc

IRC Announcement: US$340 mill

RNS Number : 8157X
Petropavlovsk PLC
13 December 2010
 



 

 

13 December 2010

 

 

PETROPAVLOVSK PLC

 

IRC Announcement: US$340 million loan from the ICBC

 

Petropavlovsk PLC is pleased to note the announcement made by its subsidiary IRC Limited ("IRC") with regard to the signing of a debt agreement with the Industrial and Commercial Bank of China ("ICBC"). IRC's shares are traded on the Stock Exchange of Hong Kong Limited under the ticker code 1029:HK. The full text of the announcement may be found in full on the IRC Limited website at:

 

www.ircgroup.com.hk

 

Peter Hambro, Chairman of Petropavlovsk PLC, commented on IRC's announcement, "I am very pleased that IRC has achieved this important milestone in its growth programme, both as a mine developer and as an independent iron ore producer.  This third party funding has always been part of the Group's long term plan and Petropavlovsk remains a committed shareholder in IRC's success."

 

Enquiries:

 

Petropavlovsk PLC

Alya Samokhvalova 

Rachel Tuft

 

 

 +44 (0) 20 7201 8900 

 

 

Merlin

David Simonson

Fiona Crosswell

 

 +44 (0) 20 7726 8400 



 


This information is provided by RNS
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