ST. JOHN'S, Nov. 4 /CNW/ - Today, Rutter Inc. (TSX: RUT) announced that it has made pre payments on October 1, 2009 and November 3, 2009 totaling $1,900,000 on one of its existing term loans. Under the terms of that loan, the payment was due November 30, 2009, but could be made earlier with no penalty to the Company.
In commenting on the pre payments, Fraser H. Edison, President & CEO noted that, "Rutter's ability to make this payment earlier than originally scheduled reflects the strength of the Company's current operations".
The $1,900,000 payment reduces the balance of the loan to $10,000,000. The loan matures at December 31, 2012 and bears interest at 12%.
About Rutter Inc. - Rutter is an enterprise focused on providing innovative technologies and engineering solutions. Rutter's global network supplies technologies to improve efficiency and safety in the marine, defense, transportation, oil and gas sectors from its headquarters in the Province of Newfoundland and Labrador. Multidisciplinary consulting engineering services including civil, structural, mechanical and electrical engineering (other than automation engineering) as well as environmental and construction management services are provided to a diverse client base which includes all levels of government and the oil and gas and industrial sectors. For more information see www.rutter.ca
This press release may contain forward-looking statements that involve risks and uncertainties. These statements reflect current expectations and are subject to a number of risks and uncertainties including but not limited to, change in technology and general market conditions. Due to the many risks and uncertainties, Rutter Inc. cannot assure that forward-looking statements that may be contained in this press release will be realized.
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
SOURCE Rutter Inc.
For further information: For further information: Karen Snook, Chief Financial Officer, Rutter Inc., (709) 368-3174; Dan Herder, Corporate Secretary, Rutter Inc., (709) 368-3174