REG - San Leon Energy PLC - Execution of New ELI Investments documentation

San Leon EnergyAnnouncement

20/07/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220720:nRST0435Ta&default-theme=true

RNS Number : 0435T  San Leon Energy PLC  20 July 2022

 

 

20 July 2022

San Leon Energy plc

("San Leon" or the "Company")

 

Execution of New ELI Investments documentation

 

San Leon, the independent oil and gas production, development and exploration
company focused on Nigeria announces that, further to the Company's AIM
Admission Document published on 8 July 2022 (the "Admission Document"), the
documents in respect of the New ELI Investment have now been signed by the
relevant parties, being ELI Malta and San Leon Energy Financing.

 

The New ELI Investment comprises of:

(i)    the New ELI Loan from San Leon to ELI of US$16,000,000 at a coupon
of 14% per annum over four years and repayable quarterly following a one-year
moratorium; and

(ii)   the New ELI Subscription at nominal value of a further 10 per cent.
of ELI's diluted share capital.

 

Details of the New ELI Investment, which remains conditional, amongst other
things, on San Leon shareholder approval at the EGM convened for 5 August
2022, were announced by the Company on 8 July 2022 and can be found in the
Admission Document which is available on the Company's website:
https://www.sanleonenergy.com (https://www.sanleonenergy.com/) .

 

Unless otherwise defined herein, the capitalised defined terms used in this
announcement have the same meaning as those used in the Admission Document.

 

 

Enquiries:

 San Leon Energy plc                                   +353 1291 6292
 Oisin Fanning, Chief Executive

 Julian Tedder, Chief Financial Officer
 Allenby Capital Limited                               +44 20 3328 5656

 (Nominated adviser and joint broker to the Company)
 Nick Naylor

 Alex Brearley

 Vivek Bhardwaj
 Panmure Gordon & Co                                   +44 20 7886 2500

 (Joint broker to the Company)
 Nick Lovering

 James Sinclair-Ford
 Tavistock                                             +44 20 7920 3150

 (Financial Public Relations)
 Nick Elwes

 Simon Hudson
 Plunkett Public Relations                             +353 1 230 3781
 Sharon Plunkett

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDVKLFFLDLBBBF