BMR Group PLC ACI drawdown update (3531F)
May 17 2017 - 2:00AM
UK Regulatory
TIDMBMR
RNS Number : 3531F
BMR Group PLC
17 May 2017
BMR Group PLC ("BMR" or the "Company")
ACI drawdown update
Further to its announcement on 3 May 2017, BMR announces that it
met yesterday with African Compass International Limited ("ACI")
regarding the drawdown under the ACI project construction and trade
finance facility which had been expected in early May.
ACI yesterday assured BMR that it would receive the first
transfer of $900,000 imminently and by no later than 26 May 2017.
Whilst the Directors have no reason to believe that the Company
will not receive the funds by that date, they cannot be certain
that this deadline will be met. Accordingly, as the Company needs
funds in the immediate future, the Board has been looking for
alternative sources of finance and is in receipt of two alternative
conditional proposals to meet its requirements for the rest of the
calendar year.
BMR will provide a further update to its shareholders by no
later than 26 May 2017.
This announcement contains inside information for the purposes
of Article 7 of Regulation 596/2014.
Ends
For further information:
BMR Group PLC 020 7734 7282
Alex Borrelli, CEO and Chairman
WH Ireland Limited 020 7220 1666
NOMAD and Joint Broker
Chris Fielding, Head of Corporate Finance
Peterhouse Corporate Finance 020 7469 0930
Joint Broker
Lucy Williams/ Duncan Vasey/ Heena Karani
This information is provided by RNS
The company news service from the London Stock Exchange
END
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