REG - Mustang Energy PLC - VRFB-H Investment – Extension of Notice Period

Mustang EnergyAnnouncement

25/03/2022 08:30

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RNS Number : 0413G  Mustang Energy PLC  25 March 2022

Friday 25 March, 2022

 

Mustang Energy PLC

VRFB-H Investment - Extension of Notice Period

Mustang Energy PLC ("Mustang" or the "Company"), the special purpose
acquisition company, provides the following update on its investment in VRFB
Holdings Limited ("VRFB-H"), further to the announcement on 8 March 2022
regarding VRFB-H successfully defending High Court proceedings brought against
it.

As announced on 18 March 2022 the Company has negotiated terms, in principle
and subject to contract, with the holders of US$8,000,000 Convertible Loan
Notes ("CLNs") to provide for the extension of the Maturity Date of the CLNs
to facilitate the proposed readmission of the Company's shares to trading on
the Standard List of the London Stock Exchange.

The terms have been documented and relevant documents are currently in the
process of being executed by all parties. To allow time for execution to be
completed Bushveld Minerals Limited ("Bushveld") and Mustang have agreed to
extend the notice period for Mustang to issue notice to Bushveld in respect of
the backstop (as announced on 19 January 2022) until Monday 28 March 2022.

The Company will provide further updates in due course.

 

ENQUIRIES

For further information, please visit www.mustangplc.com
(http://www.mustangplc.com) , follow us on Twitter @Mustang_Plc
(https://twitter.com/Mustang_Plc) , or contact:

 Mustang Energy PLC

 Dean Gallegos, Managing Director

 dg@mustangplc.com (mailto:dg@mustangplc.com)

 +61 416 220 007

 

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