Last checked at 1 May 2020 17:18
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
1 May 2020
Curzon Energy Plc("Curzon" or the "Company")
Loan Facilities Refinanced
Curzon Energy plc (LON:CZN) the London Stock Exchange listed company, announces that it has agreed to refinance its outstanding secured loan notes ("Secured Notes") of £216,553 and its unsecured loan notes ("Unsecured Notes") of US$200,000.
Secured Loan Notes
As previously announced on 13 February 2020, the Company has further agreed with the Secured Note lenders to capitalize the amounts due to date into a new principal amount of £263,265 as of 1 April 2020. The interest rate is to remain the same at 13% per annum. The maturity date of the Secured Loan notes has been extended and is now the sooner of the completion of a reverse takeover, or 1 October 2020.
Unsecured Loan Notes
As previously announced on 13 February 2020, the Company has agreed with the Unsecured Note lenders to refinance by extending the existing balance to 1 October 2020. The interest rate is to remain the same at 15% per annum, and the total outstanding principal and interest is approximately US$238,918.
Corporate Update
The Company continues to the advance the due diligence process with the Sun Seven Stars Investment Group ("SSIG") regarding the potential acquisition of a 100% interest in London Critical Metals Market ("LCMM"). Good progress has been made to date and the Company will make further updates as appropriate.
For further information please contact: | |
Curzon Energy Plc | +44 (0) 20 7747 9980 |
Scott Kaintz | |
www.curzonenergy.com | |
SP Angel Corporate Finance LLP | +44 (0) 20 3470 0470 |
Richard Hail | |
Optiva Securities Limited | +44 (0) 20 3137 1902 |