Fenikso Limited - Notification of First Investments
16/08/2024 10:29
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RNS Number : 7805A Fenikso Limited 16 August 2024
Fenikso Limited
Notification of First Investments
16(th) August 2024: Fenikso Limited (AQSE: FNK) (the "Company") announces that
it has made the first investments under its new strategy to make its cash
generate higher returns whilst it continues to receive payments under the LOGI
loan. The Company has invested in certain fixed income instruments with
returns higher than 10% per annum. One of the investments relates to a
six-month secured convertible loan agreement with Coro Energy PLC ("Coro")
(the "Loan""). The Loan is lower than 5% of the Company's assets however the
Company notes the announcement by Coro and discloses below the related party
nature of the transaction. Following the investment the Company retains a cash
balance in excess of US$5,000,000. The Company will continue to consider ways
to enhance the return on its cash including a share buy back as approved under
the recent Annual General Meeting.
Rule 4.6 Statement
Tom Richardson, Chairman of Fenikso is also a Director of Coro. The directors
(other than Tom Richardson) confirm that, having exercised reasonable care,
skill and diligence, the related party transaction is fair and reasonable as
far as the shareholders of the issuer are concerned.
For further information, please visit www.feniksoplc.com
(http://www.feniksoplc.com) or contact:
Fenikso Limited info@feniksoplc.com
Thomas Richardson, Chairman
First Sentinel Corporate Finance Ltd (AQSE Corporate Adviser)
Brian Stockbridge +44 203 855 5551
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