Jubilant Energy N.V. Funding Agreement Signed (6836F)
May 28 2013 - 6:20AM
UK Regulatory
TIDMJUB
RNS Number : 6836F
Jubilant Energy N.V.
28 May 2013
28 May, 2013
Jubilant Energy N.V.
("Jubilant" or "the Company")
Funding Agreement Signed
Jubilant is pleased to announce that on 28 May, 2013 it entered
into a funding agreement with two Jubilant Bhartia Group
companies*. The agreement allows for borrowing of upto USD 20
million in aggregate, for a period of three years and will be
structured as unsecured loans (the "Loans"). The Loans will partly
be denominated in Indian rupees and partly in USD and will bear
interest at a rate of 15% p.a. and 6 months USD LIBOR plus 3% p.a.,
respectively. The Loans may be drawn down in one or more tranches
at any time within the loan period, with both the amount and
denomination of each tranche at the discretion of the Company.
These funds will be applied to funding operating activities and
general capital of the Company.
The issues of the Loans are deemed to be a related party
transaction pursuant to AIM Rule 13. The Independent Directors of
the Company, having consulted with its nominated adviser, consider
that the terms of the Loans are fair and reasonable insofar as its
shareholders are concerned.
*The two Jubilant Bhartia Group Companies are directly or
indirectly, owned and controlled by Mr S S Bhartia who is Non
Executive Director and Chairman and Mr H S Bhartia who is Non
Executive Director and Co-Chairman of Jubilant, both of whom are
its substantial shareholders, holding approximately 85.0% of the
voting rights of the Company in aggregate.
Enquiries:
Jubilant Energy Vipul Agarwal +91 120 4025700
Panmure Gordon Callum Stewart, Adam James +44 20 7886 2500
David Simonson, Alexandra
College Hill Roper +44 20 7457 2020
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLLFLIETITFIV
Jubilant Energy (LSE:JUB)
Historical Stock Chart
From Jul 2024 to Aug 2024
Jubilant Energy (LSE:JUB)
Historical Stock Chart
From Aug 2023 to Aug 2024