Andalas Energy and Power Plc Extension of Term of Loan note
26 April 2017 - 6:45PM
UK Regulatory
TIDMADL
26 April 2017
Andalas Energy and Power Plc
('Andalas', or the 'Company')
Extension of Term of Loan note
Andalas Energy and Power Plc (AIM: ADL) is pleased to announce an update on its
zero coupon loan note ('the Loan Note') issued to Sandabel Capital L.P
('Sandabel').
Sandabel has agreed to extend the Maturity Date of the GBP500,000 Loan Note to 28
July 2017 ("the Maturity Date"). The fee associated with the extension is GBP
50,000, which will be repaid alongside the GBP500,000 loan note on or before the
maturity date. The loan note only becomes convertible into equity in the event
that the Loan Note is not repaid by the Maturity Date. All other terms of the
Loan Note (announced on 1 February 2017) remain unchanged.
Dave Whitby, CEO of Andalas, said, "We thank Sandabel for their continued
support in extending the loan note. We are making important progress with
Pertamina and in seeking strategic partners who can bring complementary skills
and resources to progress our strategy."
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 ('MAR). Upon the publication of this announcement via a
Regulatory Information Service ('RIS'), this inside information is now
considered to be in the public domain.
**ENDS**
For further information, please contact:
David Whitby Andalas Energy and Power Plc Tel: +62 21 2783 2316
Sarah Wharry Cantor Fitzgerald Europe Tel: +44 20 7894 7000
Craig Francis (Nominated Adviser and Joint
Broker)
Jon Belliss Beaufort Securities Limited Tel: +44 20 7382 8415
(Joint Broker)
Frank Buhagiar St Brides Partners Limited Tel: +44 20 7236 1177
Susie Geliher
END
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