("Altyn" or the "Company")
Final repayment of EBRD loan
In 2012, two of the Company's subsidiaries, TOO GMK Altyn MM and DTOO GRP Baurgold entered into a loan agreement with the European Bank for Reconstruction and Development ("EBRD").
Under the loan agreement an amount of USD10 million was advanced to the Company, and was repayable in quarterly instalments from January 2015 to October 2017.
The Company is pleased to announce that all obligations and repayments due under this facility were repaid in October 2017.
Within 2017, three quarterly capital repayments amounting to USD2.5 million plus interest at 7.5 per cent were made. The repayment of the loan will provide significant cash flow upside for the Company going forward.
Aidar Assaubayev, CEO of Altyn Plc commented:
"The Company is moving forward with its plans, and is pleased that all repayments have been made as agreed with EBRD. This will release significant funds and obligations to enable the Company to pursue its future capital funding needs".
For further information please contact:
+44 (0) 207 932 2456
Blytheweigh (Financial PR)
Tim Blythe/Camilla Horsfall +44 (0) 207 138 3204
Information on the Company
Altyn Plc (LSE:ALTN) is an exploration and development company, which is listed on the standard segment of the London Stock Exchange.
To read more about Altyn Plc please visit our website www.altyn.uk
This information is provided by RNS