October 19, 2018 / 12:18 PM / a month ago

BRIEF-IRC Updates On Temporary Bridge Loan

Oct 19 (Reuters) - IRC:

* SAYS “POKROVSKIY MINE” (THE LENDER) HAS CONFIRMED THAT IT WILL NOT TAKE ANY ACTION OR EXERCISE ITS RIGHT TO DEMAND REPAYMENT OF THE BRIDGE LOAN ON 20 OCTOBER 2018 UNDER CERTAIN CONDITIONS

* ALL AMOUNTS OWING UNDER THE BRIDGE LOAN SHOULD BE REPAID IN FULL BY DECEMBER 20

* ANY INTEREST THAT HAS ACCRUED ON OR PRIOR TO OCTOBER 20 SHOULD BE PAID IN FULL BY OCTOBER 20 AND ANY INTEREST ACCRUING AFTER OCTOBER 20 SHOULD BE PAID ON THE LAST DAY OF EACH MONTH PRIOR TO DECEMBER 20

* THE COMPANY PAYS AN APPROVAL FEE IN RUSSIAN ROUBLES EQUIVALENT TO $200,000 TO THE LENDER IN CONSIDERATION FOR THE WAIVER OF THE LENDER’S RIGHTS AS SET OUT ABOVE

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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