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ADM Energy agreement with Trafigura for conditional financing of up to $120m
StockMarketWire.com
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Natural resources investing company ADM Energy said it had extended its indicative agreement to enter into a strategic alliance with Trafigura Pte for a further 12 months.
There were no other changes to the original memorandum of understanding.
Under the agreement, Trafigura will provide ADM with conditional pre-financing of up to US$100 million for the acquisition or development of approved projects.
In return, Trafigura may subscribe for up to US$20 million in convertible loan notes in ADM as definitive agreements and project funding for approved projects were agreed.
At 9:43am: (LON:ADM) Admiral Group PLC share price was 0p at 2902p
Story provided by StockMarketWire.com
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