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SDX Energy PLC announced on 4 November 2024 the completion of the refinancing of its convertible loan. Aleph Finance Ltd delivered a funding statement covering approximately US$4.5 million, which was used to repay the Existing Convertible Loan. A remaining balance of approximately US$2.0 million under the Amended Facility Agreement will be available to the Company, with the loan facility available for drawdown until 1 May 2025.
| Date | 4 Nov 2024 |
| Time | 07:00:03 |
| Category | Acquisitions and alliances |
| ID | 6932K |
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY SDX TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
4 November 2024
SDX ENERGY PLC ("SDX" or the "Company")
COMPLETION OF REFINANCING OF CONVERTIBLE LOAN
Further to its announcement on 29 October 2024, the Company is pleased to confirm that Aleph Finance Ltd (the "Lender") has delivered a funding statement (pursuant to the Amended Facility Agreement) covering approximately US$4.5 million, which has been used to repay the Existing Convertible Loan. The remaining balance under the Amended Facility Agreement of approximately US$2.0 million will be available to the Company when the Lender confirms that this amount has been funded by its sub-participants and delivers a further funding statement covering this additional amount. The Company intends to draw this amount when it becomes available and to apply the proceeds towards capital expenditure in Morocco and general corporate creditors. The Loan will be available for drawdown until 1 May 2025.
Daniel Gould, Chief Executive Officer, commented:
"I am pleased to inform shareholders that the refinancing of the convertible loan has been completed. The Aleph group continues to support SDX by providing finance to enable the Company to realise some of the potential value of its assets in Morocco."
For further information:
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SDX Energy Plc Daniel Gould, Chief Executive Officer William McAvock, Chief Financial Officer Tel: +44 (0) 20 3219 5640
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Shore Capital (Nominated Adviser and Broker) Toby Gibbs/Harry Davies-Ball Tel: +44 (0) 20 7408 4090 |
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InHouseIR (Investor and Media Relations) Sarah Dees/Oliver Clark Email: sdx@inhouseir.com Tel: +44 (0) 7881 650 813 / +44 (0) 20 3239 1669
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About SDX
For further information, please see the Company's website at www.sdxenergygroup.com or the Company's filed documents at www.sedar.com.
Forward-looking information
Certain statements contained in this press release may constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or are not statements of historical fact should be viewed as forward-looking information.