Angus Energy PLC Update re. Saltfleetby Finance Facility (7233T)
March 29 2021 - 1:00AM
UK Regulatory
TIDMANGS
RNS Number : 7233T
Angus Energy PLC
29 March 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF THE MARKET ABUSE REGULATION (EU No. 596/2014) ("MAR"). THIS
INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN.
29 March 2021
Angus Energy Plc
("Angus Energy", "Angus" or the "Company")
Update re Saltfleetby Finance Facility
Angus Energy plc (AIM: ANGS) is pleased to announce that,
further to the commitments of between GBP8 and GBP9 million
communicated on 22 February 2021, it has been advised by Aleph
Energy Limited that they have received additional commitments of
GBP3 million on the same terms as those advised in that earlier RNS
which would, in total, now meet the GBP12 million funding amount
sought.
The commitments are conditional upon there being no material
adverse change and the satisfactory execution of all legal and
security documents, which are, for the most part, in near final
form. The exception being an Intercreditor Agreement and Security
Agency Agreement governing the relationship between all of the
Lenders. Further soft commitments and expressions of strong
interest advised mean that the Facility is oversubscribed and a
short period of agreeing allocations will also be needed.
The Loan Facility terms remain substantially unchanged from
those advised in our RNS of 30 November 2020. Angus is preparing
charges to be registered and working to satisfy the conditions
precedent set out in the Loan Facility Agreement in view of signing
the Agreements and receiving the funds in the near term.
In the interim we have progressed the procurement of further
elements of the gas processing package and continue our development
programme in order to achieve first gas later this year.
END.
Enquiries:
Angus Energy Plc www.angusenergy.co.uk
George Lucan Tel: +44 (0) 208 899 6380
Beaumont Cornish (Nomad) www.beaumontcornish.com
James Biddle/ Roland Cornish Tel: +44 (0) 207 628 3396
WH Ireland Limited (Broker)
Katy Mitchell/ Harry Ansell Tel: +44 (0) 113 394 6600
Flagstaff PR/IR angus@flagstaffcomms.com
Tim Thompson Tel: +44 (0) 207 129 1474
Fergus Mellon
Aleph Commodities info@alephcommodities.com
Notes
About Angus Energy plc
Angus Energy plc is a UK AIM quoted independent onshore Energy
Transition company with a complementary portfolio of clean gas
development assets, onshore geothermal projects, and legacy oil
producing fields. Angus is focused on becoming a leading onshore UK
diversified clean energy and energy infrastructure company. Angus
Energy has a 51% interest in the Saltfleetby Gas Field (PEDL005),
majority owns and operates conventional oil production fields at
Brockham (PL 235) and Lidsey (PL 241) and has a 25% interest in the
Balcombe Licence (PEDL244).
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END
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