Fenikso Limited - Receipt of funds for repayment of US$51.9m loan
12/12/2024 07:00
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RNS Number : 7191P Fenikso Limited 12 December 2024
Fenikso Limited
Receipt of funds for repayment of US$51.9m loan
12 December 2024: 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$543,212 as partial
repayment of the loan of US$51,919,467 the remaining balance is US$38,439,930.
The amount received equates to 8.65% of the most recent payment from crude oil
sales received by LOGI. The next payment is scheduled for the beginning of
February 2025. The proceeds will go towards repaying the Savanah Energy
Investments Limited loan, which currently has an outstanding balance of
US$11,841,823. Post the payment to Savanah Energy the Company expects to have
over US$6,000,000 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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