Rurelec – more bad news as it ‘discusses’ two debts with one in default
By Nigel Somerville, the Deputy Sheriff of AIM | Wednesday 22 July 2015
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
I have already pointed to some uncertainty over the control of Rurelec (RUR) HEREas well as some financing issues HERE, after bridging finance of $12million appeared to have fallen through last week, although a long-awaited sale brought in $6.4million.Monday saw RNSs which showed that Rurelec has not one, but two debts currently causing sleepless nights. It does not look good, and the appointment of two Exec Directors seemingly at the insistence of one of the creditors is ominous.