Fenikso Limited Receipt of funds for repayment of US$51.9m loan
May 15 2024 - 1:00AM
RNS Regulatory News
RNS Number : 4320O
Fenikso Limited
15 May 2024
15 May 2024
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$1,290,672 as partial repayment of the loan of
US$51,919,467 the remaining balance is
US$42,248,833. 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 June 2024.
The proceeds will go towards repaying the Savanah Energy
Investments Limited loan, which currently has an outstanding
balance of US$13,298,493 and towards building up cash in Fenikso.
Post the payment to Savanah Energy the Company expects to have over
US$4,000,000 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 (AQSE Corporate
Adviser)
Brian Stockbridge
|
+44 (0)20 3855 5551
|
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END
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