HYR Hydrodec Group Plc

TIDMHYR

RNS Number : 9029X

HydroDec Group plc

24 December 2019

24 December 2019

Hydrodec Group plc

("Hydrodec", the "Company" or the "Group")

Financing update

Since the Company's interim results, the Board has continued to explore various options as part of its turnaround programme.

During this time, and as disclosed in the Company's interim results, Andrew Black has continued to support the Group, providing cash of approximately US$1.3 million since 30 June 2019. Terms for these loans, together with the extension of the existing loans, have yet to be fully agreed with documentation and full agreement expected to be concluded in January 2020. Such terms will constitute a related party transaction pursuant to AIM Rule 13.

The Company will continue to pursue other financing and strategic options into the early part of 2020, including the re-financing of the Canton plant. Further announcements will be made in due course.

For further information, please contact:

 
 Hydrodec Group plc                           hydrodec@vigocomms.com 
 Chris Ellis, Chief Executive Officer 
  and Interim Executive Chairman 
 
 Arden Partners plc (Nominated Adviser 
  and Broker)                                 0207 614 5900 
 Corporate Finance: Ciaran Walsh, Victoria 
  Hodge 
  Equity Sales: Aimee Kerslake 
 
 Vigo Communications (PR adviser to 
  Hydrodec)                                   020 7390 0240 
 Patrick d'Ancona 
 Chris McMahon 
 Charlie Neish 
 

The information communicated in this announcement is inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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