Aminex PLC - oil & gas company focused on Tanzania - Extends longstop completion date for its Ruvuma farm-out agreement with ARA Petroleum Tanzania Ltd to July 31. ARA Petroleum has agreed not to demand repayment of a USD2 million loan or to charge interest on a separate USD3 million funding arrangement. ARA Petroleum has agreed to provide additional funding support to Aminex if the farm-out is delayed further by advancing part of the interim period costs, if required. Aminex directors have waived or surrendered their rights to all share options awarded to them on May 1.
Current share price: 0.78 pence
Year-to-date change: down 20%
By Tapan Panchal; tapanpanchal@alliancenews.com
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Aminex (AEX)