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20 Jul 2022 07:00
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20 July 2022
San Leon Energy plc
("San Leon" or the "Company")
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Execution of New ELI Investments documentation
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San Leon, the independent oil and gas production, development and exploration company focused on Nigeria announces that, further to the Company's AIM Admission Document published on 8 July 2022 (the "Admission Document"), the documents in respect of the New ELI Investment have now been signed by the relevant parties, being ELI Malta and San Leon Energy Financing.
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The New ELI Investment comprises of:
(i) the New ELI Loan from San Leon to ELI of US$16,000,000 at a coupon of 14% per annum over four years and repayable quarterly following a one-year moratorium; and
(ii) the New ELI Subscription at nominal value of a further 10 per cent. of ELI's diluted share capital.
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Details of the New ELI Investment, which remains conditional, amongst other things, on San Leon shareholder approval at the EGM convened for 5 August 2022, were announced by the Company on 8 July 2022 and can be found in the Admission Document which is available on the Company's website: https://www.sanleonenergy.com.
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Unless otherwise defined herein, the capitalised defined terms used in this announcement have the same meaning as those used in the Admission Document.
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Enquiries:
San Leon Energy plc | +353 1291 6292 |
Oisin Fanning, Chief Executive Julian Tedder, Chief Financial Officer | Ā |
Allenby Capital Limited (Nominated adviser and joint broker to the Company) | +44 20 3328 5656 |
Nick Naylor Alex Brearley Vivek Bhardwaj | Ā |
Panmure Gordon & Co (Joint broker to the Company) | +44 20 7886 2500 |
Nick Lovering James Sinclair-Ford | Ā |
Tavistock (Financial Public Relations) | +44 20 7920 3150 |
Nick Elwes Simon Hudson | Ā |
Plunkett Public Relations | +353 1 230 3781 |
Sharon Plunkett | Ā |
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