Jubilant Energy N.V. Funding Agreement (8068X)
September 02 2015 - 2:58AM
UK Regulatory
TIDMJUB
RNS Number : 8068X
Jubilant Energy N.V.
02 September 2015
2 September, 2015
Jubilant Energy N.V.
("Jubilant", "the Company" or "the Group")
Funding Agreement
Jubilant is pleased to announce that on August 31, 2015, its
operating subsidiary company in India entered into funding
arrangements with Jubilant Energy Private Limited ("JEPL"),
(formerly known as "Jubilant Enpro Private Limited)* for unsecured
loan facilities aggregating to INR 15,50,00,000 (Rupees Fifteen
Crores Fifity Lakhs) equivalent to approximately USD 2.34 Million
(the "Loans"). The Loans have a tenor of seven years and an
interest rate of 14% per annum. These funds will be used towards
funding the capital and operating expenditure, debt servicing and
for other corporate purposes of the Group.
The Loans are deemed to be related party transactions 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 in so far as its shareholders are
concerned.
*JEPL is the holding company of Jubilant Energy (Holding) BV
which is a substantial shareholder of the Company, holding
approximately 85.0% of the voting rights of the Company. JEPL 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 Company.
Enquiries:
Jubilant Energy Nikhil Pandey +91 120 7186000
Dominic Morley, 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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