logo-loader
RNS
viewAlternus Energy Inc

Funding update

.bwalignc { text-align: center; list-div-position:inside; }

Funding update

 

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 Plc
Rajinder Basra
+44 (0) 207 932 2456

VSA Capital Limited
Andrew 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

Altyn Plc

Quick facts: Alternus Energy Inc

Price: 0.265

Market: OTCMKTS
Market Cap: $17.99 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE