Payment Received Against MLPL Loan Notes

RNS Number : 3425T

San Leon Energy PLC

03 July 2018

 

03 July 2018

San Leon Energy plc

("San Leon" or the "Company")

Payment Received Against MLPL Loan Notes

Repayment of Midwestern Leon Petroleum Limited ("MLPL") Loan Notes (the "Loan Notes")

San Leon Energy plc (the "Company"), the AIM listed company focused on oil and gas development and appraisal in Africa and Europe, announced on 29 June 2018 that it had received USD $11 million in satisfaction of payments due for Q2 2018 under the MLPL Loan Notes (details of which have been described in previous Company announcements).

The Company now confirms that it has received a further USD $7.7 million in full satisfaction of MLPL's obligations to the Company for Q2 2018 in respect of the Loan Notes.

A balance of USD $157.7 million of principal remains outstanding and payable to the Company as of 02 July 2018. Interest continues to accrue at 17% per annum on the outstanding principal, in addition to this balance.

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                                                       

Oisin Fanning, Chief Executive (+ 353 1291 6292)

Cantor Fitzgerald Europe (Nominated adviser, financial adviser and joint broker to the Company)

Nick Tulloch ([phone])

David Porter ([phone])

Whitman Howard Limited (Financial adviser and joint broker to the Company)

Nick Lovering ([phone])

Francis North ([phone])

Brandon Hill Capital Limited (Joint broker to the Company)                       

Oliver Stansfield ([phone])             

Jonathan Evans ([phone])   

Vigo Communications (Financial Public Relations)                                         

Chris McMahon ([phone])

Kate Rogucheva ([phone])

Plunkett Public Relations                                                                                           

Sharon Plunkett ([phone])      

 

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