Baron Oil PLC Repayment of Infrastrata Loan (7893A)
March 29 2017 - 1:00AM
UK Regulatory
TIDMBOIL
RNS Number : 7893A
Baron Oil PLC
29 March 2017
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY
BARON OIL PLC TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER
THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION
SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN
THE PUBLIC DOMAIN.
Baron Oil PLC
Repayment of Infrastrata Loan
Baron Oil PLC (AIM:BOIL) ("Baron" or "Company") announces that
Infrastrata plc ("Infrastrata") has repaid the GBP200,000 drawn
down on the secured loan facility provided by Baron.
Baron remains entitled to receive an additional GBP200,000 (the
"Additional Payment") in the event of a sale or disposal by
InfraStrata or its subsidiaries, IMSL and InfraStrata UK, of
substantially all of their assets, which comprise interests in the
Islandmagee gas storage project, and/or a change in control of
InfraStrata, IMSL or InfraStrata UK, within two years from the date
of the loan agreement. In the event of a partial disposal of
InfraStrata, IMSL or InfraStrata UK's interests in the Islandmagee
gas storage project (whereby InfraStrata and InfraStrata UK retain
control of IMSL), the Additional Payment will be reduced to
GBP100,000, with the remaining GBP100,000 payable in the event of a
subsequent disposal or change in control of IMSL or the Islandmagee
gas storage project during the two year period.
For further information on the Company, visit
www.baronoilplc.com or contact:
Baron Oil plc: Tel: +44 (0)1892
Malcom Butler (CEO) 838948
------------------------------------- -----------------
Cantor Fitzgerald (Nominated Advisor Tel: +44 (0)20
and Joint Broker) 7894 7000
Sarah Wharry (Corporate Finance)
Alex Pollen (Corporate Broking)
------------------------------------- -----------------
SP Angel (Joint Broker) Tel: +44 (0)20
Richard Hail / Richard Redmayne 7470 0470
------------------------------------- -----------------
The person making this notification on behalf of Baron Oil plc
is Geoff Barnes, the Chief Financial Officer and Director of the
Company.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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