Director's Loan

RNS Number : 9970Y

Westmount Energy Limited

28 August 2018

 

The information contained within this announcement (the "Announcement") is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this Announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

Westmount Energy Limited

("Westmount" or the "Company")

Director's Loan

The Board of Westmount announces that an unsecured, interest-free loan has been made by Mr Gerard Walsh to the Company for the amount of £200,000 to provide short term liquidity to support a share investment by the Company, which shall also be announced shortly today. The loan is repayable within 60 days of written request, with such notice not to be served prior to 30 September 2018,  and must be repaid no later than 31 December 2018.

As Mr Walsh is a director of the Company, the loan is deemed to be a related party transaction pursuant to rule 13 of the AIM Rules for Companies. The Board of Westmount, excluding Mr Walsh, having consulted with Cenkos Securities plc as the Company's Nominated Adviser, considers the terms of this transaction to be fair and reasonable in so far as the Company's shareholders are concerned.

For further information, please contact:

Westmount Energy Limited                             www.westmountenergy.com

David King, Director                                            Tel: [phone]

Jane Vlahopoulou                                              

Cenkos Securities plc (Nomad and Broker)

Nicholas Wells                                                  Tel: [phone]

Harry Hargreaves

 

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