Jubilant Energy N.V. Funding Agreement Signed (8060I)
June 04 2014 - 3:25AM
UK Regulatory
TIDMJUB
RNS Number : 8060I
Jubilant Energy N.V.
04 June 2014
4 June, 2014
Jubilant Energy N.V.
("Jubilant", "the Company" or "the Group")
Funding Agreement Signed
Jubilant is pleased to announce that on June 3, 2014, it entered
into a funding arrangement with Jubilant Energy (Holding) BV* for
an unsecured loan of USD 5 million (the "Loan"). The Loan has a
tenor of one year and an interest rate of 6 months USD LIBOR plus
4.5% per annum. These funds will be used for funding the operations
of the Group and it is anticipated that the Company will enter into
further such loans in the near term
The Loan is 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 Loan are fair and reasonable insofar as its shareholders are
concerned.
*Jubilant Energy (Holding) BV is 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 7186000
Callum Stewart, Adam
Panmure Gordon James +44 20 78862500
This information is provided by RNS
The company news service from the London Stock Exchange
END
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