NBR Namibian Res

TIDMNBR

RNS Number : 3562M

Namibian Resources PLC

20 January 2016

20 January 2016

Namibian Resources plc

Director Loans

Namibian Resources plc (the "Company") announces that Brian Moritz, Chairman, has continued to provide financial support to the Company by way of unsecured, interest-free loans. As at today's date, the balance of such loans is approximately GBP83,000 (31 August 2015: GBP31,000). Alex MacDonald, who is independent of Mr. Moritz, considers, having consulted with Cenkos Securities plc, the Company's nominated adviser, that the terms of these loans are fair and reasonable insofar as the Company's shareholders are concerned.

It is expected that the outstanding balance will be settled by an issue of shares to Mr. Moritz following completion of the proposed acquisition by the Company of Petro Kouilou S.A. (as announced on 21 December 2015).

For further information:

 
  Namibian Resources plc 
   Brian Moritz              +44 7976 994300 
   Alex MacDonald            +44 7831 642064 
 
   Cenkos Securities plc 
   Nick Tulloch              +44 131 220 9772 
   Beth McKiernan            +44 131 220 9778 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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January 20, 2016 02:00 ET (07:00 GMT)

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