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BMR Group PLC (BMR)

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Friday 26 May, 2017

BMR Group PLC

ACI Drawdown Update

RNS Number : 4296G
BMR Group PLC
26 May 2017
 

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

ACI Drawdown Update

Further to its announcement on 21 May 2017, BMR announces that it has not yet received its first drawdown, of $900,000, under its project construction and trade finance facility with African Compass International Limited ("ACI").  However, the Directors remain confident  that the drawdowns will be forthcoming following further assurances given by ACI and its funding partner to Jeremy Hawke (a Director of the Company).

As previously reported, BMR needs funds in the immediate future.  It is therefore continuing to look for alternative sources of finance and is considering various conditional proposals to meet its requirements for the rest of the calendar year.

A further announcement will be made when further information is available.

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

 

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
 
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