Curzon Energy PLC Loan Facility Refinancing

Data : 18/10/2019 @ 08:00
Fonte : UK Regulatory (RNS & others)
Titolo : Curzon Energy Plc (CZN)
Quotazione : 0.875  0.0 (0.00%) @ 09:00
Quotazione Curzon Energy Grafico

Curzon Energy PLC Loan Facility Refinancing

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RNS Number : 2959Q

Curzon Energy PLC

18 October 2019

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

18 October 2019

Curzon Energy Plc

("Curzon" or the "Company")

Loan Facility Refinancing

Curzon Energy plc (LON:CZN) the London Stock Exchange listed oil and gas development company, pursuing a targeted strategy of upstream North American natural gas appraisal and development assets, announces that it has agreed to refinance its outstanding secured loan notes of GBP200,000.

The Company has agreed with the lenders to capitalize the interest and fees to date into a new principal amount of GBP216,553 as of 1 October 2019. The interest rate is to remain the same at 13% per annum, with interest now due monthly on the new outstanding principal amount.

The loan is to be repaid on the sooner of a transaction involving the Company's interest in Coos Bay Energy, a fundraising greater than GBP500,000 or 31 December 2019. The lenders retain the option to be repaid in shares provided the Company has adequate authorization in place for such an issuance.

The existing warrants over 1,000,000 shares in the Company are to be extended to 1 October 2022 and will be repriced to a 10% premium over any future funding undertaken by the Company.

For further information please contact:

 
 Curzon Energy Plc                 +44 (0) 20 7747 9980 
 Scott Kaintz 
 www.curzonenergy.com 
 
 SP Angel Corporate Finance LLP    +44 (0) 20 3470 0470 
 Richard Hail 
 Stephen Wong 
 
 Optiva Securities Limited         +44 (0) 20 3137 1902 
 Christian Dennis 
 

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 or visit www.rns.com.

END

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October 18, 2019 02:00 ET (06:00 GMT)

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