Fenikso Limited Receipt of funds for repayment of US$51.9m loan (9097U)
November 28 2023 - 3:19AM
UK Regulatory
TIDMFNK
RNS Number : 9097U
Fenikso Limited
28 November 2023
28 November 2023
Fenikso Limited
("Fenikso" or "the Company")
Receipt of funds for repayment of US$51.9m loan
Fenikso Limited (AQSE: FNK), 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$884,976
as partial repayment of the loan of US$51,919,467 the remaining
balance is US$45,883,105 . 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 December. The proceeds
will go towards repaying the Savanah Energy Investments Limited
loan and towards building up cash in Fenikso. Post the payment to
Savanah Energy the Company expects to have over US$1,500,000 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 info@feniksoplc.com
Thomas Richardson, Chairman
First Sentinel Corporate Finance (AQSE Corporate
Adviser)
Brian Stockbridge +44 (0)20 3855 5551
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END
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