Fenikso Limited Receipt of funds for repayment of US$51.9m loan
December 12 2024 - 2:00AM
RNS Regulatory News
RNS Number : 7191P
Fenikso Limited
12 December 2024
Fenikso Limited
Receipt of funds for repayment of
US$51.9m loan
12 December 2024: Fenikso Limited
(AQSE: FNK) (the "Company"), 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$543,212 as partial repayment of the loan of US$51,919,467 the
remaining balance is US$38,439,930. The
amount received equates to 8.65% of the most recent payment from
crude oil sales received by LOGI. The next payment is scheduled for
the beginning of February 2025. The proceeds will go towards
repaying the Savanah Energy Investments Limited loan, which
currently has an outstanding balance of US$11,841,823. Post the
payment to Savanah Energy the Company expects to have over
US$6,000,000 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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