Fenikso Limited Receipt of funds for repayment of US$51.9m loan
15 August 2024 - 4:00PM
RNS Regulatory News
RNS Number : 5759A
Fenikso Limited
15 August 2024
Fenikso Limited
Receipt of funds for repayment of
US$51.9m loan
15h August 2024: Fenikso
Limited (AQSE: FNK) (the "Company"), the Cayman Islands
enterprise company, announces the receipt of funds under the Lekoil
& Gas Investments ("LOGI") Loan entered in to on 31 December
2022 as part of the Fenikso restructuring. Fenikso Limited received
US$838,538 as partial repayment of the loan of US$51,919,467 the
remaining balance is US$40,078,050. The
amount received equates to 8.65% of the most recent payment from
crude oil sales received by LOGI. The next payment is scheduled
before the end of October 2024. The proceeds will go towards
repaying the Savanah Energy Investments Limited loan, which
currently has an outstanding balance of US$12,670,876 and towards
building up cash in Fenikso. Post the payment to Savanah Energy the
Company expects to have over US$5,500,000 of cash on its balance
sheet.
The information contained within this announcement is deemed
by the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act
2018 ('MAR'). Upon the publication of this announcement via
Regulatory Information Service ('RIS'), this inside information is
now considered to be in the public domain.
For further information, please
visit www.feniksoltd.com or contact:
Fenikso Limited
Thomas Richardson,
Chairman
|
info@feniksoplc.com
|
First Sentinel Corporate Finance Ltd (AQSE Corporate
Adviser)
Brian Stockbridge
|
+44 20 3855 5551
|
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