Fenikso Limited - Receipt of funds for repayment of US$51.9m loan
28/10/2024 07:00
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RNS Number : 7731J Fenikso Limited 28 October 2024
28 October 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$403,929 as partial repayment of the loan of
US$51,919,467 the remaining balance is US$38,983,142. 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 December 2024. The
proceeds will go towards repaying the Savanah Energy Investments Limited loan,
which currently has an outstanding balance of US$12,067,171. Post the payment
to Savanah Energy the Company expects to have over US$5,500,000 of cash and
investments 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
Thomas Richardson, Chairman info@feniksoplc.com
First Sentinel Corporate Finance Limited
Brian Stockbridge, Corporate Adviser +44 7858 888 007
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