ENVIRONMENTAL RECYCLING TECHNOLOGIES PLC 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
£200,000 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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Environmental Recycling Technologies plc issued this content on 2015-12-30 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2015-12-30 09:42:39 UTC
Original Document: http://ir1.euroinvestor.com/IR/Files/RNSNews/651282/EnvironmentalRecyclingTechnologiesplc_13283775.pdf
