Environmental Recycling Tech. PLC Director's loan - further clarification and update (4181K)
December 30 2015 - 4:30AM
UK Regulatory
TIDMENRT
RNS Number : 4181K
Environmental Recycling Tech. PLC
30 December 2015
30 December 2015
Environmental Recycling Technologies plc
Director's loan
Further clarification & update
Further to the announcement of 1 July 2015 that Ken Brooks, then
non-executive Chairman, has made a loan of GBP200,000 available to
the Company, Environmental Recycling Technologies plc (AIM: ENRT),
the patent rights holder to the Powder Impression Moulding ("PIM")
process which is capable of converting mixed waste plastics into
commercially viable products, wishes to confirm that, while the
loan is technically repayable on demand, it has received assurances
from Mr Brooks that he has no present intention to call for
repayment of the loan and that it is his present intention for the
loan to be converted in due course into ordinary shares in the
Company.
The Company has now drawn down fully against the facility which
is unsecured and carries interest at the rate of 2 per cent per
month.
Mr Brooks retired from the Board following the Annual General
Meeting held on 30 September 2015.
For further information:
Environmental Recycling Technologies plc
Michael Rowan (Chairman)
Lee Clayton (Managing Director) 01993 779 468
W H Ireland
John Wakefield 0117 945 3470
This information is provided by RNS
The company news service from the London Stock Exchange
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