Rurelec in negotiations with Radix over loan facility

20th Jul 2015 13:26

(ShareCast News) - Power generation assets developer Rurelec said it was in talks with Radix Investment UK to reach an agreement over a loan facility.Late in December last year, the London-listed group said it was in default of the loan facility and it was now in negotiations to agree a settlement over the amount it still owed Radix, although it warned that there was no certainty over the outcome.Meanwhile, the company has appointed Simon Morris and Mark Keegan as new executive directors with immediate effect.Rurelec shares were up 3.73% to 1.95p at 1243 BST on Monday.