Fenikso Limited Receipt of funds for repayment of US$51.9m loan
October 28 2024 - 3:00AM
RNS Regulatory News
RNS Number : 7731J
Fenikso Limited
28 October 2024
28 October 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$403,929 as partial repayment of the loan of
US$51,919,467 the remaining balance is
US$38,983,142. 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
2024. The proceeds will go towards repaying the Savanah Energy
Investments Limited loan, which currently has an outstanding
balance of US$12,067,171. Post the payment to Savanah Energy the
Company expects to have over US$5,500,000 of cash and investments
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
Limited
|
|
|
Brian Stockbridge, Corporate Adviser
|
+44 7858 888 007
|
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END
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