Avobone Court Petition Withdrawn

RNS Number : 5124X

San Leon Energy PLC

24 November 2017

 

24 November 2017

San Leon Energy plc

("San Leon" or the "Company")

  Avobone Court Petition Withdrawn, Remaining       

                   Avobone Payment Schedule

Further to the announcements on 1 November and 10 November 2017, San Leon, the AIM listed company focused on oil and gas development and appraisal in Africa and Europe, announces that Avobone has withdrawn the petition to wind up the Company before the High Court of Ireland in Dublin.

The agreed payment schedule in respect of sums owed by San Leon to Avobone (including interest and costs), is as follows:

·     €4.2 million on or before 27 November 2017, which has been paid

·     €3.3 million on or before 19 December 2017

·     €8.3 million on or before 15 January 2018

As previously announced, the Company is scheduled to be repaid approximately US$19 million per quarter on its loan notes from Q4 2017, with the next payment due to be received by the Company on or before 1 January 2018. The Company has received $5 million of the sum due this quarter to date, which was allocated to Avobone.

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.

Enquiries:

San Leon Energy plc	+ 353 1291 6292
Oisin Fanning, Chief Executive
SP Angel Corporate Finance LLP (Nominated Adviser)	[phone]
Richard Morrison
Ewan Leggat Soltan Tagiev
Whitman Howard Limited (Financial adviser and Joint broker)	[phone]
Nick Lovering
Francis North
Brandon Hill Capital Limited (Joint broker to the Company)	[phone]
Oliver Stansfield
Jonathan Evans
Vigo Communications (Financial Public Relations)	[phone]
Chris McMahon
Kate Rogucheva
Plunkett Public Relations	[phone]
Sharon Plunkett

 

END

 

 

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