REG - Primorus Investments - Further re Investment in Mustang

Primorus InvestmentsAnnouncement

28/02/2022 17:00

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RNS Number : 0874D  Primorus Investments PLC  28 February 2022

Primorus Investments plc

 

("Primorus" or the "Company")

 

Backstop arrangements for the Investment in Mustang Energy PLC

 

Primorus Investments plc (AIM: PRIM) provides an update in relation to its
investment in Mustang Energy PLC ("MUST").

 

Further to the options set out within the RNS issued on the 19 January 2022,
Primorus has, today, requested MUST to issue the requisite notice to Bushveld
Minerals PLC ("BMN") to enact the Backstop arrangements, under which BMN will,
at its election, either repay to Primorus the outstanding CLN plus accrued
interest or enter into a CLN with Primorus.

 

Primorus will provide a further update when BMN chooses which settlement
option, referred to in the 19 January RNS, to pursue.

 

 

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or
anticipated future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such
as general economic, market and business conditions, competition for qualified
staff, the regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political jurisdiction,
uncertainties regarding the results of exploration, uncertainties regarding
the timing and granting of prospecting rights, uncertainties regarding the
Company's ability to execute and implement future plans, and the occurrence of
unexpected events.  Actual results achieved may vary from the information
provided herein as a result of numerous known and unknown risks and
uncertainties and other factors.

 

 

 

For further information please contact:

 

 Primorus Investments plc

 Matthew Beardmore, Chief Executive Officer   +44 (0)20 8154 7907

 Nominated Adviser

 Cairn Financial Advisers LLP                 +44 (0) 20 7213 0880

 Sandy Jamieson/James Caithie

 

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