Westmount Energy Limited Director's Loan Repayment (2164J)
June 27 2017 - 1:00AM
UK Regulatory
TIDMWTE
RNS Number : 2164J
Westmount Energy Limited
27 June 2017
Westmount Energy Limited
("Westmount" or the "Company")
Director's Loan Repayment
Further to the announcements made on 8 February 2017 and 12
April 2017 relating to the Director's loan made by Mr Gerard Walsh
to the Company, the Board of Westmount confirms that it has agreed
to repay the remaining balance outstanding to Mr Walsh of
GBP172,500. The original loan of GBP250,000 was granted by Mr Walsh
to allow the Company to complete its investment in Eco (Atlantic)
Oil & Gas Ltd and was unsecured, interest-free and repayable
within 60 days of written request.
Repayment is considered a related party transaction under the
AIM Rules for Companies. The Board of Westmount, excluding Mr
Walsh, having consulted with Cenkos Securities plc as the Company's
Nominated Adviser, considers the terms of this transaction to be
fair and reasonable in so far as the Company's shareholders are
concerned.
Following on from the successful open offer and subscription in
May 2017 the Board has continued to review a number of investment
opportunities and believes the Company is currently well placed to
execute further investments in the energy space. The Board looks
forward to updating investors when appropriate.
Westmount Energy Limited www.westmountenergy.com
David King, Director Tel: +44 (0)1534
823028
Cenkos Securities plc Tel: +44 (0)20
Nomad and Broker 7397 8900
Nicholas Wells / Elizabeth Bowman
(Corporate Finance)
This information is provided by RNS
The company news service from the London Stock Exchange
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