Fenikso Limited - Receipt of funds for repayment of US$51.9m loan
09/04/2024 09:25
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RNS Number : 8531J Fenikso Limited 09 April 2024
09 April 2024
Fenikso Limited
("Fenikso" or "the Company")
Receipt of funds for repayment of US$51.9m loan
Fenikso Limited (AQSE: FNK), 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$841,779 as partial repayment of the loan of
US$51,919,467 the remaining balance is US$43,539,505. 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 April 2024. The proceeds
will go towards repaying the Savanah Energy Investments Limited loan, which
currently has an outstanding balance of US$13,671,652 and towards building up
cash in Fenikso. Post the payment to Savanah Energy the Company expects to
have over US$3,000,000 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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