Curzon Energy PLC Loan Facility Refinancing (2959Q)
October 18 2019 - 02:00AM
UK Regulatory
TIDMCZN
RNS Number : 2959Q
Curzon Energy PLC
18 October 2019
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.
18 October 2019
Curzon Energy Plc
("Curzon" or the "Company")
Loan Facility Refinancing
Curzon Energy plc (LON:CZN) the London Stock Exchange listed oil
and gas development company, pursuing a targeted strategy of
upstream North American natural gas appraisal and development
assets, announces that it has agreed to refinance its outstanding
secured loan notes of GBP200,000.
The Company has agreed with the lenders to capitalize the
interest and fees to date into a new principal amount of GBP216,553
as of 1 October 2019. The interest rate is to remain the same at
13% per annum, with interest now due monthly on the new outstanding
principal amount.
The loan is to be repaid on the sooner of a transaction
involving the Company's interest in Coos Bay Energy, a fundraising
greater than GBP500,000 or 31 December 2019. The lenders retain the
option to be repaid in shares provided the Company has adequate
authorization in place for such an issuance.
The existing warrants over 1,000,000 shares in the Company are
to be extended to 1 October 2022 and will be repriced to a 10%
premium over any future funding undertaken by the Company.
For further information please contact:
Curzon Energy Plc +44 (0) 20 7747 9980
Scott Kaintz
www.curzonenergy.com
SP Angel Corporate Finance LLP +44 (0) 20 3470 0470
Richard Hail
Stephen Wong
Optiva Securities Limited +44 (0) 20 3137 1902
Christian Dennis
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END
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