Richland Resources Ltd completes the disposal of Capricorn Sapphire

  • Jan 02, 2020 GMT
  • Team Kalkine
  Richland Resources Ltd (LON: RLD) has informed about the completion of disposal of Capricorn Sapphire.
  • The company has reported that further to its different announcements in relation to the proposed disposal to Fura Gems Inc. of its wholly-owned subsidiary Richland Corporate Ltd, the holder of the Capricorn Sapphire Project, it has completed the disposal on 31 December 2019.
  • As per the agreement, Fura paid the total cash consideration of USD 1,250,000 (c £952,125) due under the disposal, of which USD880,000 (c £670,296) has been paid directly to the lender to settle the total amount outstanding under the company's pre-existing Secured Convertible Loan Facility
  • The balance of the consideration will be utilised by the company to pay transaction costs and certain other outstanding creditors.
  • On 2nd January 2020, at the time of writing, GMT 08:02 AM, RLD shares were trading at GBX 0.15, up by 0.01 points or 6.90% against the previous day closing price.

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