Fenikso Limited - Receipt of funds for repayment of US$51.9m loan

Announcement provided by

Fenikso Limited · FNK

28/11/2023 09:19

RNS Number : 9097U

Fenikso Limited

28 November 2023

Fenikso Limited

("Fenikso" or "the Company") 

Receipt of funds for repayment of US$51.9m loan

Fenikso Limited (AQSE: FNK), the Cayman Islands enterprise company, announces the receipt of funds under the Lekoil & Gas Investments ("LOGI") Loan entered in to on 31 December 2022 as part of the Fenikso restructuring. Fenikso Limited received US$884,976 as partial repayment of the loan of US$51,919,467 the remaining balance is US$45,883,105. The amount received equates to 8.65% of the most recent payment from crude oil sales received by LOGI. The next payment is scheduled before the end of December. The proceeds will go towards repaying the Savanah Energy Investments Limited loan and towards building up cash in Fenikso. Post the payment to Savanah Energy the Company expects to have over US$1,500,000 of cash on its balance sheet.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

For further information, please visit www.feniksoltd.com or contact:

Fenikso Limited    

Thomas Richardson, Chairman   

info@feniksoplc.com   

First Sentinel Corporate Finance (AQSE Corporate Adviser)

Brian Stockbridge

+44 (0)20 3855 5551

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