21 September 2021
Rurelec PLC
("Rurelec" or the "Company")
Disposal of Frame 6B Gas Turbine
Further to the announcement dated 9 September 2021, Rurelec PLC (AIM: RUR) announces today that its wholly owned Chilean subsidiary, Termoelectrica Del Norte SA ("TDN") has completed the sale of its Frame 6B gas turbine generating set and certain associated ancillary equipment (the "Turbine") to The Independent Power Corporation PLC. The outstanding balance of US $900,000 (£648,321) (the "Balance") has been received by Rurelec.
On 15 September 2021 the Directors issued the Annual Report and Accounts 2020 disclosing a material uncertainty paragraph in note 1b to the financial statements. That material uncertainty paragraph was considered necessary as at that point in time because the outstanding Balance due under the sale of the Turbine had not been received. The Directors note that had this Balance been received on or before 15 September 2021 then they would have not disclosed a material uncertainty.
For further information please contact:
| Rurelec PLC | W H Ireland (Nomad & Broker) |
| Andy Coveney, Director | Katy Mitchell and Ben Good
|
| Tel: 020 7549 2839/40 | Tel: 020 7220 1666 |
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