Fenikso Limited - Receipt of funds for repayment of US$51.9m loan
25/01/2024 07:00
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RNS Number : 8370A Fenikso Limited 25 January 2024
25(th) January 2024
Fenikso Limited
Receipt of funds for repayment of US$51.9m loan
Fenikso Limited (AQSE: FNK) (the "Company"), the Cayman Islands enterprise
company, announces the receipt of funds under the Lekoil & Gas Investments
("LOGI") Loan entered in to on 31 December 2022 as part of the Fenikso
restructuring. Fenikso Limited received US$806,299 as partial repayment of the
loan of US$51,919,467 the remaining balance is US$44,381,285. The amount
received equates to 8.65% of the most recent payment from crude oil sales
received by LOGI. The next payment is scheduled before the end of February
2024. The proceeds will go towards repaying the Savanah Energy Investments
Limited loan, which currently has an outstanding balance of US$13,915,028 and
towards building up cash in Fenikso. Post the payment to Savanah Energy the
Company expects to have over US$2,500,000 of cash on its balance sheet.
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this
announcement via Regulatory Information Service ('RIS'), this inside
information is now considered to be in the public domain.
For further information, please visit www.feniksoltd.com or contact:
Fenikso Limited info@feniksoplc.com
Thomas Richardson, Chairman
First Sentinel Corporate Finance (AQSE Corporate Adviser)
Brian Stockbridge +44 (0) 20 3855 5551
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