Facilité de fonds de roulement
Cette annonce contient des informations privilégiées
Ironveld Plc
("Ironveld" ou la "Société")
Facilité de fonds de roulement
Ironveld plc ("Ironveld" or the "Company"), the AIM-traded mining development company, is pleased to confirm that it has today entered into a further working capital loan facility agreement ("Facility Agreement") with Tracarta Limited ("Tracarta"), in which John Wardle, Executive Chairman of the Company, has a beneficial interest. The Facility Agreement enables the Company to draw down up to £125,000 on equivalent terms to the existing loan facilities with Tracarta (see announcement released on 2 February 2024) and has a term of six months.
The funds drawn down under the Facility Agreement will be used to strengthen the Company's working capital position. As previously notified, the Company remains in discussions regarding a direct institutional funding transaction, which is currently expected to close in H1 2024 and, if concluded, will enable Ironveld to invest in all Group operations, including transition to production of high purity iron powders. As indicated in the Company's interim results announcement (released on 28 March 2024), the Board is assessing the Company's current funding requirements which will likely require the Company to raise additional capital, potentially through the issue of new equity.
The Facility Agreement has the following key terms:
Montant de la facilité : | £125,000 |
Terme: | 6 mois |
Intérêts: | 11% par an |
Frais: | 2.5% |
Repayment and Conversion: | Repayment of any funds drawn down plus interest immediately upon receipt of funds drawn down from any replacement institutional debt facility or conversion at the issue price in the event of any future equity placing during the loan term |
Mandats : | Aucun |
Transaction avec des parties liées
John Wardle has a beneficial interest in Tracarta and, as such, the provision of the facility by Tracarta constitutes a related party transaction pursuant to Rule 13 of the AIM Rules for Companies. The Company's independent Directors (being Giles Clarke, Nick Harrison, Peter Cox and Malebo Ratlhagane) consider, having consulted with the Company's nominated adviser, Cavendish, that the terms of the Facility Agreement are fair and reasonable insofar as the Company's shareholders are concerned.
Pour plus d'informations, s'il vous plaît contacter:
Ironveld SA Dr John Wardle, Executive Chairman
| c/o BlytheRay Tel: +44 20 7138 3204
| |
Cavendish Capital Markets Ltd (Nomad and Joint Broker) Derrick Lee/Adam Rae
|
| Tel: +44 20 7220 0500 |
Turner Pope (Conjoint Broker) Andrew Thacker/James Pope
| Tel: +44 20 3657 0050 | |
Blythe Ray Tim Blythe / Megan Ray | Tel: +44 20 7138 3204 |
NOTES AUX RÉDACTEURS
Ironveld (IRON.LN) est le propriétaire des droits miniers sur environ 28 kilomètres de magnétite Bushveld affleurante avec une ressource en minerai conforme SAMREC de quelque 56 millions de tonnes de minerai titrant 1.12% V2O5, 68.6% Fe2O3 et 14.7% TiO2.
In 2022, Ironveld agreed to acquire and refurbish a smelter facility in Rustenburg, South Africa, in which it can process its magnetite ore into the marketable products of high purity iron, titanium slag and vanadium slag. This transaction became unconditional in March 2023.
Ironveld est une société cotée en bourse AIM. Pour plus d'informations sur Ironveld, veuillez consulter www.ironveld.com.
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