REG - SDX Energy PLC - Update on Convertible Loan

SDX EnergyAnnouncement

29/10/2024 07:00

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RNS Number : 9502J  SDX Energy PLC  29 October 2024

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY SDX TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION
(EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

29 October 2024

 

SDX ENERGY PLC ("SDX" or the "Company")

UPDATE ON CONVERTIBLE LOAN

As announced on 4 September 2024, the Company and Aleph Finance Ltd (the
"Lender") signed a new agreement (the "New Facility Agreement") that would
refinance the Company's syndicated unsecured convertible loan agreement with
the Lender for up to US$3.25 million (the "Existing Convertible Loan") and,
as announced on 26 September 2024, the Company and the Lender agreed to amend
the terms of the New Facility Agreement (the "Amended Facility Agreement").

The Existing Convertible Loan is unsecured, convertible at any time at the
option of the individual lenders and repayable on 24 July 2024, but the
Company requested and the Lender consented and agreed to repayment now being
delayed until 1 November 2024. The amount payable is US$3.82 million
(principal US$3.25 million and interest US$0.57 million).

The Lender has confirmed that it has been funded by its sub-participants and,
on or before 1 November 2024, will deliver a funding statement covering
approximately US$4.5 million, which will be used to repay the Existing
Convertible Loan. The remaining balance under the Amended Facility Agreement
of approximately US$2.0 million will be available to the Company when the
Lender confirms that this amount has been funded by its sub-participants and
delivers a further funding statement covering this additional amount. The
Company intends to draw this amount when it becomes available and to apply the
proceeds towards capital expenditure in Morocco and general corporate
creditors. The Loan will be available for drawdown within six months of the
satisfaction or waiver of the conditions precedent under the Amended Facility
Agreement.

For further information:

 

 SDX Energy Plc

 Daniel Gould, Chief Executive Officer

 William McAvock, Chief Financial Officer

 Tel: +44 (0) 20 3219 5640

 Shore Capital (Nominated Adviser and Broker)

 Toby Gibbs/Harry Davies-Ball

 Tel: +44 (0) 20 7408 4090

 InHouseIR (Investor and Media Relations)

 Sarah Dees/Oliver Clark

 Email: sdx@inhouseir.com

 Tel: +44 (0) 7881 650 813 / +44 (0) 20 3239 1669

About SDX

For further information, please see the Company's website at
www.sdxenergygroup.com
(https://url.avanan.click/v2/___http:/www.sdxenergygroup.com/___.YXAxZTpzaG9yZWNhcDphOm86MDEzNTAyODI2ZTNhZWY5ZWM4YWU4MGY3MmNiNjhiMDc6Njo4MDY2OmIyZDJhNDdjNTNhNWU3Yjc5Y2VjZDQ5MzgxZTRkZWJlNTE2NjQyYTMwOTk0NmQwOGZjN2U4MWIyMzIxODExNjM6cDpU)
or the Company's filed documents at www.sedar.com
(https://url.avanan.click/v2/___http:/www.sedar.com/___.YXAxZTpzaG9yZWNhcDphOm86MDEzNTAyODI2ZTNhZWY5ZWM4YWU4MGY3MmNiNjhiMDc6NjplNWE4OjE1YTQ5NzZmMjEyMWQ5MjgyZjhkZjI1YmQzNmU3YzE3ODdlMWMyY2MwM2E4YjBiYTJmY2M3ODk2ZWE5MmI3YTM6cDpU)
.

 

Forward-looking information

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"forward-looking information" as such term is used in applicable Canadian
securities laws. Any statements that express or involve discussions with
respect to predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or are not statements of historical fact should
be viewed as forward-looking information.

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