Convertible Facility update

RNS Number : 2298E

Lekoil Limited

09 March 2022

 

9 March 2022

Lekoil Limited

("LEKOIL" or the "Company")

Convertible Facility update

LEKOIL (AIM: LEK), the oil and gas exploration and production company with a focus on Nigeria and West Africa, provides the following by way of corporate update.

· Drawdown under Savannah convertible facility agreement (the "Savannah CFA"):  The Company confirms that it has fully drawn down under the Savannah CFA, in the amount of £885,672.

· Injunction on issuance of shares by Mr. Akinyanmi:  The Company's application to lift the injunction will be heard on Thursday 10 March.  The Company will update the market appropriately following the hearing.

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.lekoilplc.com or contact:

SP Angel Corporate Finance LLP (Nominated Adviser and Joint Broker) Jeff Keating / Stuart Gledhill	[phone]
Tennyson Securities (Joint Broker) Peter Krens / Edward Haig-Thomas	[phone]

 

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