Jubilant Energy N.V. Funding Agreement Signed (9866R)
July 02 2015 - 6:00AM
UK Regulatory
TIDMJUB
RNS Number : 9866R
Jubilant Energy N.V.
02 July 2015
2 July, 2015
Jubilant Energy N.V.
("Jubilant","the Company" or "the Group")
Funding Agreement Signed
Jubilant is pleased to announce that on June 30, 2015, its two
operating subsidiary companies in India entered into funding
arrangements with Jubilant Energy Private Limited ("JEPL"),
(formerly known as "Jubilant Enpro Private Limited)* and Tower
Promoters Private Limited** for unsecured loan facilities of INR
6,00,00,000 (Rupees Six Crores) equivalent to approximately USD
0.93 Million and INR 18,00,00,000 (Rupees Eighteen Crores)
equivalent to approximately USD 2.8 Million (the "Loans")
respectively. The Loans have a tenor of seven years and an interest
rate of 14% per annum. These funds will be used towards funding the
capital and operating expenditure, debt servicing and for other
corporate purposes of the Group.
The Loans are deemed to be related party transactions pursuant
to AIM Rule 13. The Independent Directors of the Company, having
consulted with its nominated adviser, consider that the terms of
the Loans 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.
**Tower Promoters Private Limited is directly or indirectly,
owned and controlled by Mr S S Bhartia, who is Non Executive
Director and Chairman of Jubilant. Mr S S Bhartia, together with Mr
H S Bhartia, who is Non Executive Director and Co-Chairman of
Jubilant, are the Company's substantial shareholders, holding
approximately 85.0% of the voting rights of the Company in
aggregate.
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
MSCLIFLADTIFIIE
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