Jubilant Energy N.V. Funding Agreement Signed (2054G)
March 02 2015 - 2:45AM
UK Regulatory
TIDMJUB
RNS Number : 2054G
Jubilant Energy N.V.
02 March 2015
02 March, 2015
Jubilant Energy N.V.
("Jubilant","the Company" or "the Group")
Funding Agreement Signed
Jubilant is pleased to announce that on February 27, 2015, its
two operating subsidiary companies in India entered into funding
arrangements with Jubilant Enpro Private Limited (JEPL)* for
unsecured loan facilities aggregating to INR 30,00,00,000 (Rupees
Thirty Crores) equivalent to approximately USD 4.84 Million (the
"Loan"). The Loan has a tenor of one year and an interest rate of
15.5% per annum. These funds will be used for funding the
operations of the Group including debt repayments and
servicing.
The Loan is deemed to be a related party transaction pursuant to
AIM Rule 13. The Independent Directors of the Company, having
consulted with its nominated adviser, consider that the terms of
the Loan are fair and reasonable in so far as its shareholders are
concerned.
*JEPL is the holding company of Jubilant Energy (Holding) BV
which is a substantial shareholder of the Company, holding
approximately 85.0% of the voting rights of the Company. JEPL is
directly or indirectly, owned and controlled by Mr S S Bhartia, who
is Non Executive Director and Chairman and Mr H S Bhartia, who is
Non Executive Director and Co-Chairman of Company.
Enquiries:
Jubilant Energy Vipul Agarwal +91 120 7186000
Dominic Morley, Adam
Panmure Gordon James +44 20 78862500
This information is provided by RNS
The company news service from the London Stock Exchange
END
STRLIFSDVFIFIIE
Jubilant Energy (LSE:JUB)
Historical Stock Chart
From May 2024 to Jun 2024
Jubilant Energy (LSE:JUB)
Historical Stock Chart
From Jun 2023 to Jun 2024