Jubilant Energy N.V. Funding Agreement Signed (0948L)

TIDMJUB

RNS Number : 0948L

Jubilant Energy N.V.

01 July 2014

1 July, 2014

Jubilant Energy N.V.

("Jubilant", "the Company" or "the Group")

Funding Agreement Signed

Jubilant is pleased to announce that on June 30, 2014, its two operating subsidiary companies in India entered into funding arrangements with Tower Promoters Private Limited* for unsecured loan facilities aggregating to INR 57,00,00,000 (Rupees Fifty seven Crores) equivalent to approximately USD 9.5 Million (the "Loan"). The Loan has a tenor of one year and an interest rate of 15.5% per annum. These funds will be used for funding the operations of the Group including debt repayments and servicing.

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.

*Tower Promoters Private Limited is directly or indirectly, owned and controlled by Mr S S Bhartia, who is Non Executive Director and Chairman of Jubilant. Mr S S Bhartia, together with Mr H S Bhartia, who is Non Executive Director and Co-Chairman of Jubilant, are the Company's 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

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END

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