YRK York Pharma

 

TIDMYRK 
 
RNS Number : 1308W 
York Pharma plc 
22 July 2009 
 

York Pharma plc 
("York" or the "Company") 
 
 
Update on Uluru Loan Repayment 
 
 
 
 
On 7 April 2009, York Pharma plc announced that Uluru, Inc. ("Uluru") had made 
available to York a US$1.0 million short term secured line of credit (the 
"Loan"), to allow the Company to continue trading through the period needed to 
complete any formal offer by Uluru for the Company under the Takeover Code. On 
24 June 2009, the Company announced that discussions between Uluru and the 
Company concerning a proposed offer for the Company had been terminated and that 
Uluru had given notice to the Company for the full repayment of the Loan 
(together with accrued interest) on or by 22 July 2009. 
 
 
The Board of York today announces it has today paid an amount of US$250,000 
representing a proportion of the Loan amounts payable to Uluru and further that 
the Board of Uluru has agreed (subject to a continuation of the terms of the 
original Loan arrangements between the parties) to a repayment date for the 
remaining balance of the amounts payable pursuant to the Loan of Wednesday 29 
July 2009. 
 
 
York continues to actively pursue alternative funding facilities in order to 
repay the balance of the Loan (with accrued interest) to Uluru and to meet its 
immediate working capital requirements. If the Company's fund raising efforts 
are unsuccessful, this will have a material adverse effect on the Company's 
financial position and ability to continue trading. 
 
 
The Company will provide a further update as and when appropriate. 
 
 
For more information please contact: 
 
 
+---------------------------------------+----------------------------+ 
| York Pharma plc                       | Tel: +44 (0) 1908 764020   | 
| Richard Anderson, Chief Executive     |                            | 
| Officer                               |                            | 
| Ian Miscampbell, Chief Financial      |                            | 
| Officer                               |                            | 
|                                       |                            | 
+---------------------------------------+----------------------------+ 
| Collins Stewart Europe Limited        | Tel: +44 (0) 207 523 8350  | 
| Hugh Field / Adam Cowen               |                            | 
|                                       |                            | 
+---------------------------------------+----------------------------+ 
| Financial Dynamics                    | Tel: +44 (0) 207 831 3113  | 
| Ben Brewerton / Emma Thompson         |                            | 
|                                       |                            | 
+---------------------------------------+----------------------------+ 
 
 
Collins Stewart Europe Limited, which is authorised and regulated in the United 
Kingdom by the Financial Services Authority, is acting as Nominated Advisor and 
broker to York Pharma plc and will not be responsible to anyone other than York 
Pharma plc for providing the protections afforded to clients of Collins Stewart 
Europe Limited nor for providing advice in connection with any other matter 
referred to herein. 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCCKBKDOBKDDOB 
 

York Pharma (LSE:YRK)
Historical Stock Chart
From May 2024 to Jun 2024

York Pharma (LSE:YRK)
Historical Stock Chart
From Jun 2023 to Jun 2024