TIDMJUB

RNS Number : 8772P

Jubilant Energy N.V.

11 June 2015

11 June, 2015

Jubilant Energy N.V.

("Jubilant","the Company" or "the Group")

Funding Agreement Signed

Jubilant is pleased to announce that on June 9, 2015, an operating subsidiary of the Company in India entered into a funding arrangement with Jubilant Enpro Private Limited (JEPL)* for an unsecured loan facility of INR 10,00,00,000 (Rupees Ten Crores) equivalent to approximately USD 1.56 Million (the "Loan"). The Loan has a tenor of seven years and an interest rate of 14% per annum. These funds will be used towards funding the capital, operating and other general corporate expenditure.

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 insofar 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      Nikhil Pandey             +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

MSCLIFLDRAILLIE

Jubilant Energy (LSE:JUB)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Jubilant Energy Charts.
Jubilant Energy (LSE:JUB)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Jubilant Energy Charts.