Seritza Loan Extension
30/06/2022 07:00
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RNS Number : 7232Q Ncondezi Energy Limited 30 June 2022
News Release
Seritza Loan Extension
30 June 2022: Ncondezi Energy Limited ("Ncondezi" or the "Company") (AIM:NCCL)
provides an update on the working capital facility term loan ("Loan") with
Seritza Limited ("Seritza").
Restructuring discussions are progressing well and are expected to be
finalised imminently (the "Restructuring"). Whilst the principle terms are
finalised Seritza has confirmed that it will extend the period in which it
will not call in the Loan to 8 July 2022. The Company will provide further
updates at the appropriate time.
Enquiries
For further information please visit www.ncondezienergy.com or contact:
Ncondezi Energy Hanno Pengilly +27 (0) 71 362 3566
Scott Mathieson, Edward Thomas, Kane Collings +44 (0) 20 3100 2000
Liberum Capital Limited
NOMAD & Joint Broker
Novum Securities Limited Colin Rowbury +44 (0) 20 7399 9427
Joint Broker
Elizabeth Johnson +44 (0) 777 56 55 927
Pimlico Advisory Ltd
Investor Relations
This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 which is part of UK law by virtue of
the European Union (Withdrawal) Act 2018. Upon publication of this
Announcement and such information is now considered to be in the public
domain. The person who arranged for the release of this announcement on behalf
of the Company was Hanno Pengilly.
About Ncondezi Energy
Ncondezi is an African power development company with an advanced staged,
integrated 300MW thermal coal power plant and mine project located in the Tete
Province, Northern Mozambique.
The Company is focused on providing reliable, affordable and accessible
baseload energy to Mozambique and secure against the effects of water drought
and intermittency of new renewables. This project supports Mozambique's energy
strategy of universal electricity access by 2030. According to the World Bank,
only 30% of the Mozambican population had access to energy in 2017. The
Ncondezi Project would provide 300MW of reliable and available power helping
to close the infrastructure gap of the region and serving as a catalyst for
economic development.
The power plant will be designed to be equipped with state-of-the-art
emissions controls technologies that will reduce local air pollutants,
minimizing the plant's impact on the environment and ensuring its compliance
with the most stringent emission standards.
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