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By LSE RNS

RNS Number : 8576S
Nature Group PLC
05 October 2017
 

This announcement contains inside information

 

NATURE GROUP PLC

("Nature Group" or the "Company")

 

Director Loan

 

Nature Group PLC (AIM:NGR), the provider of port reception facilities and waste treatment solutions for the oil, marine and process industries, announces that it has entered into a Loan Agreement (the "Loan Agreement") with Andreas Drenthen, the CEO of Nature Group, pursuant to which Mr Drenthen has made available a loan of €100,000 to Nature International Slop Disposal BV ("NISD"), a wholly owned subsidiary of the Company (the "Loan"). Under the terms of the Loan Agreement, no interest is payable by the Company or its subsidiaries in respect of the Loan, which is repayable by the Company three months from today's date, unless otherwise agreed. Nature Group will act as guarantor in respect of the Loan.

 

As announced in the Company's interim results for the period to 30 June 2017, the Company's financial position is being actively monitored by the directors and it is currently in negotiations with a number of parties about the immediate financing, structure and strategic direction of the business. The purpose of the Loan is to provide short term liquidity to allow the Company to satisfy a number of near-term payment obligations whilst those negotiations are progressed and the directors of the Company continue to implement further operational measures to improve the financial position of, and outlook for, the Company.

 

Berend van Straten, Chairman of Nature Group, commented:

 

"We are very grateful to Andreas for providing this short term loan which will enable the Board to continue to focus its efforts on creating value and strengthening the long term prospects of the Company."

 

For further information:

 

For further information contact:

Nature Group PLC

Andreas Drenthen, CEO Tel: + 31 653261484

Berend van Straten, Chairman Tel: + 31 626805605

Cenkos Securities plc

Neil McDonald Tel: +44 (0)131 220 9771 / +44 (0)207 397 1953

Beth McKiernan Tel: +44 (0)131 220 9778 / +44 (0)207 397 1950

Nature Group is traded on the AIM market, (ticker: NGR). www.ngrp.com

 

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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