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Tue, October 6, 2009Mon, October 5, 2009Sun, October 4, 2009Fri, October 2, 2009Thu, October 1, 2009Wed, September 30, 2009Tue, September 29, 2009Mon, September 28, 2009Fri, September 25, 2009Thu, September 24, 2009African Copper Plc: African Copper Plc: Extension of Loan Facility
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Published in House and Home on Wednesday, September 30th 2009 at 7:57 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
LONDON, UNITED KINGDOM--(Marketwire - Sept. 30, 2009) - African Copper Plc ("ACU" or the "Company") (AIM:ACU)(BOTSWANA:AFRICAN COPPER) announces the extension of the repayment date of the Zambia Copper Investments ("ZCI") US$7 million secured bridge loan facility (the "Initial Bridge Loan") and secured US$25.4 million bridge loan facility (the "Second Bridge Loan") from 30 September 2009 to 30 November 2009. This extension is expected to provide ZCI the necessary time to seek shareholder approval for the proposed four year secured part convertible credit facility (the "Convertible Loan Facility") of US$31,129,100. The advance of funds to ACU by ZCI under the Convertible Loan Facility is subject to ZCI shareholder approval which was expected to be completed in September 2009. The Initial Bridge Loan and the Second Bridge Loan are to be refinanced by ACU out of the proceeds of the Convertible Loan Facility and the ZCI US$9.9 million share subscription which was completed in May 2009.