(Alliance News) - Oilex Ltd on Thursday said it has agreed to vary the repayment obligations for its series C loan, totalling GBP125,000.
At the end of October, the Australian oil & gas exploration and production company advised that it had entered into an amendment agreement to vary the terms of its series C loan funding facility, originally entered into on February 4, so that the new repayment date was extended to the end of December.
Pursuant to the amendment agreement announced on Thursday, the loan repayment date has been extended from December 31 to the end of March 2021. All other terms related to the extension of the repayment date remain unchanged and no further options have been issued in respect to the further extension.
Republic Investment Management Pte Ltd makes up all of the series C loan balance of GBP125,000. Republic has a shareholding in Oilex of 10%.
The AIM stock was trading 2.1% lower in London on Thursday at 0.071 pence a share.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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