RE: Finance Deal18 Feb 2021 18:02
Why would they get lawyers on the job if the loan was not going to go through.Also talking about a drawdown seems to me like it is done and dusted.
Angus Energy plc (AIM: ANGS) is pleased to announce, further to the RNS of 30 November, the Company, Saltfleetby Energy Limited and Aleph Energy Limited ("Aleph") have appointed lawyers, following the completion of technical due diligence.
Legal and corporate due diligence is being conducted in parallel with the drafting of the loan facility and security agreements, with the objective of concluding the documentation in the coming two to three weeks, with drawdown shortly thereafter following the satisfaction of the conditions precedent, standard for a facility of this nature.