REG - San Leon Energy PLC - Update on investment from Tri Ri Asset Management

San Leon EnergyAnnouncement

27/11/2023 07:00

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RNS Number : 6729U  San Leon Energy PLC  27 November 2023

 

 

 

 

27 November 2023

San Leon Energy plc

("San Leon" or the "Company")

 

Update on investment from Tri Ri Asset Management Corp.

 

San Leon, the independent oil and gas production, development and exploration
company focused on Nigeria, provides the following update on the investment of
up to US$187 million into the Company by Tri Ri Asset Management Corp.
("TRAM").  The investment was announced by the Company on 10 October 2023 and
comprised a loan facility, issue of warrants and subscription for new ordinary
shares of €0.01 each in the Company.

 

As previously announced on 2 November 2023, TRAM had confirmed to San Leon
that funds were in the process of being transferred to San Leon in respect of
the loan facility.  TRAM also subsequently confirmed to San Leon that funds
had been transferred in respect of the subscription.  To date, neither
payment has been received by the Company and San Leon continues to work with
TRAM to understand the reasons for the delay and to enable funds to be
released.

 

Further announcements will be made in due course.

 

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)
 James Sinclair-Ford

 John Prior
 Fortified Securities                                  +44 7493989014

 (Joint broker to the Company)
 Guy Wheatley
 Tavistock                                             +44 20 7920 3150

 (Financial Public Relations)
 Nick Elwes

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

 

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