KRM 2.63% 3.7¢ kingsrose mining limited

News: KRM Kingsrose Mining updates on ongoing restructuring process, page-14

  1. 7,501 Posts.
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    What about the $5.188 mil loan to Mr Herryansjah as per the 6 mos Financial Report Jan to June 2015?
    (see the actual report....this did not translate very well !)

    MM

    Current
    Other receivables (a)
    5,188,364
    5,188,364 1,554,570
    1,554,570
    Non-Current
    Other receivables (a) Loans to a related party (b)
    1,397,896 5,142,001
    6,539,897 8,821,445
    4,217,793 4,603,652
    Column 1
    0 31 December 30 June 2015 2015
    1 $$
    1. (a)  Other receivables consist primarily of VAT recoverable from PTNM’s operations that can be recovered between 4 to 24 months.
    2. (b)  Balance comprises USD loans extended to a minority shareholder of PTNM, Mr Herryansjah, to subscribe for new shares in PTNM in order for Mr Herryansjah to retain his 15% interest pursuant to the governing Shareholder Agreement. The loans are unsecured and repayable from 80% of dividends payable by PTNM to Mr Herryansjah. Interest is charged at LIBOR plus 5% per annum. Interest not paid on due date is capitalised and bears interest at the same rate as the loans.
 
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