Altyn Plc Funding update
11 September 2019 - 4:00PM
UK Regulatory
TIDMALTN
Altyn Plc
("Altyn" or the "Company")
Funding update
Altyn plc (the Company) is pleased to announce that its
application for a loan of US$17m (6.5bln Tenge) from Kazakh Bank
JSC "Bank Center Credit" (BCC) has been approved by the bank's
credit committee.
The loan is repayable in instalments over a term of seven years
and bears interest at 6%.
The loan will be used to ramp up production at Sekisovskoye and
to achieve the Company's current development plans.
The Company will update shareholders as plans progress.
Altyn's CEO Aidar Assaubayev commented:
"The aim has always been to obtain the necessary finance at
terms that are competitive and in the best interest of
shareholders. After exploring a number of opportunities and an
extensive due diligence period we are very pleased to update our
shareholders on the funding received. This funding will, I am
confident, provide a springboard for future growth. "
Further Information:
For further information please contact:
Altyn PlcRajinder Basra+44 (0) 207 932 2456
VSA Capital LimitedAndrew Monk/Andrew Raca +44 (0) 20 3005
5000
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014.
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
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190910005851/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
September 11, 2019 02:00 ET (06:00 GMT)
Altyngold (LSE:ALTN)
Historical Stock Chart
From Apr 2024 to May 2024
Altyngold (LSE:ALTN)
Historical Stock Chart
From May 2023 to May 2024