Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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http://www.sevenenergy.com/media/news-and-announcements/2019/13-02-2019
7 Energy : this was released YESTERDAY , Wednesday 13th 2019
''13 February 2019
Seven Energy International Limited and Savannah Petroleum plc enter into an Implementation Agreement
London, Lagos, 13 February 2019:
To the Holders of all outstanding
$300,000,000 10¼% Senior Secured Notes due 2021
Regulation S Global Notes – Common Code: 109375519 / ISIN: XS1093755194
Rule 144A Global Note – Common Code: 109375438 / ISIN: XS1093754387 (the "Notes")
Issued by Seven Energy Finance Limited (the "Issuer")
On 4 February 2019, Seven Energy International Limited and Savannah Petroleum PLC ("Savannah"), inter alia, entered into the implementation agreement (the "Implementation Agreement") setting out the steps and conditions for the implementation of the restructuring of the Seven group and acquisition by Savannah of certain Seven assets (the "Transaction").
Concurrently with the signing of the Implementation Agreement, a supplemental indenture was executed in accordance with the terms of the existing indenture (the "Indenture") on the instructions of noteholders representing 96.04% of the senior secured notes to make certain amendments to the Indenture to facilitate the Transaction. Savannah's press release in relation to the Transaction can be found at Regulatory News.
Regulatory News
As set out in the exchange offer and consent solicitation memorandum issued on January 24, 2018, upon consummation of the Transaction, it is expected that the Seven group will transfer substantially all of its assets and cash generating businesses to Savannah, including the capital stock of Seven Energy (BVI) Limited ("SE(BVI)L") (the assets of which includes its subsidiary, Seven Uquo Gas Limited ("SUGL")) the capital stock of Exoro Holding B.V. ("Exoro") (the assets of which include the Accugas midstream business) and Universal Energy Resources Limited ("UERL").
As a result, the guarantees provided by and security interests in the property, assets and capital stock of SE(BVI)L and SUGL will terminate, be discharged and be of no further effect. Therefore, upon consummation of the Transaction, the capital stock and assets of Exoro, UERL, SE(BVI)L and SUGL will no longer comprise assets of the Seven group and the existing notes will no longer benefit from guarantees or security interests in respect of any material operating assets
For further enquiries, please contact:
Seven Energy International Limited
Chris Thomas, Chief Financial Officer
Joe Kaye, Group Head, Finance
Patricia Akinlotan, Senior Manager, Shared Business Support
+44 203 967 8891
+44 203 967 8892
+234 1 277 0600
Caritas Communications
Okwudili Oniya
+234 809 996 1007
About Seven Energy
Seven Energy, founded in 2004, is the leading integrated gas company in south east Nigeria, with upstream and midstream oil and gas interests in the region. The Group's midstream gas infrastructure assets, focused in the south east Niger Delta, include the
It’s noted at the bottom of the ‘ home page ‘ .
Swindon - where does it say that on the website. I can't see it?
I've checked tomorrow's Court 10 and there is nbo carry over showing from today which I guess was possible. A positive sign.
Sounds ideal. RNS this afternoon or first thing tomorrow and hopefully start seeing the SP climb at a decent rate. Gla.
Google Savannah and you can see that SAVP web site now showing 7 Energy Corporation as a subsidiary - guess it's all dine and dusted then following Court this morning?