San Leon Energy PLC Revised terms to the Avobone settlement agreement (1802V)
November 01 2017 - 3:00AM
UK Regulatory
TIDMSLE
RNS Number : 1802V
San Leon Energy PLC
01 November 2017
1 November 2017
San Leon Energy plc ("San Leon" or the "Company")
Revised terms to the settlement agreement with Avobone
Further to the announcement on 5 June 2017, San Leon, the AIM
listed company focused on oil and gas development and appraisal in
Africa and Europe, announces that San Leon and Avobone N.V. and
Avobone Poland B.V. (together "Avobone") have agreed a revised
payment schedule in respect of sums owed to Avobone. The remaining
payments of EUR8,000,000 (previously due during October 2017) and
EUR6,694,840 (previously due during November 2017) will now be paid
using Nigerian funds to be received by San Leon, to be paid to
Avobone as soon as received by San Leon and no later than by 15
January 2018. The Company is scheduled to be repaid approximately
US$19 million per quarter on its loan notes from Q4 2017, with the
next payment due to be received by the Company on or before 1
January 2018.
Other terms of the settlement agreement remain unchanged.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Directors' Responsibility Statement
The Directors of San Leon accept responsibility for the
information contained in this announcement. To the best of their
knowledge and belief (having taken all reasonable care to ensure
such is the case), the information contained in this announcement
is in accordance with the facts and does not omit anything likely
to affect the import of such information.
Enquiries:
San Leon Energy plc + 353 1291 6292
Oisin Fanning, Chief Executive
SP Angel Corporate Finance LLP (Nominated +44 20 3470
Adviser) 0470
Richard Morrison
Ewan Leggat
Whitman Howard Limited (Financial +44 20 7659
adviser and Joint broker) 1234
Nick Lovering
Francis North
Brandon Hill Capital Limited (Joint +44 203 463
broker to the Company) 5000
Oliver Stansfield
Jonathan Evans
Vigo Communications (Financial Public +44 207 830
Relations) 9700
Chris McMahon
Alexandra Roper
Plunkett Public Relations +353 1 280 7873
Sharon Plunkett
This information is provided by RNS
The company news service from the London Stock Exchange
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