REG - Curzon Energy plc - Loan Facilities Refinanced

Curzon EnergyAnnouncement

01/05/2020 17:20

RNS Number : 7277L
  
Curzon Energy PLC
  
01 May 2020
  
 

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.
 
1 May 2020
 
Curzon Energy Plc

("Curzon" or the "Company")
Loan Facilities Refinanced
 
Curzon Energy plc (LON:CZN) the London Stock Exchange listed company, announces that it has agreed to refinance its outstanding secured loan notes ("Secured Notes") of £216,553 and its unsecured loan notes ("Unsecured Notes") of US$200,000.
Secured Loan Notes
As previously announced on 13 February 2020, the Company has further agreed with the Secured Note lenders to capitalize the amounts due to date into a new principal amount of £263,265 as of 1 April 2020.  The interest rate is to remain the same at 13% per annum.  The maturity date of the Secured Loan notes has been extended and is now the sooner of the completion of a reverse takeover, or 1 October 2020.  
Unsecured Loan Notes
As previously announced on 13 February 2020, the Company has agreed with the Unsecured Note lenders to refinance by extending the existing balance to 1 October 2020.  The interest rate is to remain the same at 15% per annum, and the total outstanding principal and interest is approximately US$238,918.   
Corporate Update 
The Company continues to the advance the due diligence process with the Sun Seven Stars Investment Group ("SSIG") regarding the potential acquisition of a 100% interest in London Critical Metals Market ("LCMM").  Good progress has been made to date and the Company will make further updates as appropriate.  
 



For further information please contact:


















Curzon Energy Plc


+44 (0) 20 7747 9980




Scott Kaintz








www.curzonenergy.com


















SP Angel Corporate Finance LLP


+44 (0) 20 3470 0470




Richard Hail


















Optiva Securities Limited


+44 (0) 20 3137 1902













 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
  END
 
 
MSCSSIFMFESSEFI