Information  X 
Enter a valid email address

BMR Group PLC (BMR)

  Print   

Thursday 08 June, 2017

BMR Group PLC

ACI Drawdown Further Update

RNS Number : 4770H
BMR Group PLC
08 June 2017
 

BMR Group PLC ("BMR" or the "Company")

ACI drawdown further update

Further to its announcement on 26 May 2017, BMR announces that it is disappointed not yet to have received the first drawdown of $900,000, under its project construction and trade finance facility ("facility agreement") with African Compass International Limited ("ACI"). 

The Directors recognise the importance of securing funding in the near future for completion of the construction of the Kabwe plant by the end of the calendar year.  Accordingly, BMR is in advanced discussions with alternative funding providers.

In the event that ACI does not meet its obligations under the facility agreement, the offtake agreement, as announced on 8 August 2016, nevertheless remains in place at BMR's discretion.

A further announcement will be made in due course.

 

For further information:

BMR Group PLC 020 7734 7282

Alex Borrelli, CEO and Chairman

WH Ireland Limited 020 7220 1666

NOMAD and Joint Broker

Chris Fielding, Head of Corporate Finance

Peterhouse Corporate Finance 020 7469 0930

Joint Broker

Lucy Williams/ Duncan Vasey/ Heena Karani

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCFRMRTMBTMBFR

a d v e r t i s e m e n t