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San Leon Energy Plc
San Leon Energy PLC - Update on investment from Tri Ri Asset Management
27th November 2023, 07:00
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RNS Number : 6729U
San Leon Energy PLC
27 November 2023
 

 

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27 November 2023

San Leon Energy plc

("San Leon" or the "Company")

 

Update on investment from Tri Ri Asset Management Corp.

 

San Leon, the independent oil and gas production, development and exploration company focused on Nigeria, provides the following update on the investment of up to US$187 million into the Company by Tri Ri Asset Management Corp. ("TRAM").  The investment was announced by the Company on 10 October 2023 and comprised a loan facility, issue of warrants and subscription for new ordinary shares of €0.01 each in the Company.

 

As previously announced on 2 November 2023, TRAM had confirmed to San Leon that funds were in the process of being transferred to San Leon in respect of the loan facility.  TRAM also subsequently confirmed to San Leon that funds had been transferred in respect of the subscription.  To date, neither payment has been received by the Company and San Leon continues to work with TRAM to understand the reasons for the delay and to enable funds to be released. 

 

Further announcements will be made in due course. 

 

Enquiries:

 

San Leon Energy plc

+353 1291 6292

Oisin Fanning, Chief Executive

Julian Tedder, Chief Financial Officer

 

Allenby Capital Limited

(Nominated adviser and joint broker to the Company)

+44 20 3328 5656

Nick Naylor

Alex Brearley

Vivek Bhardwaj

 

Panmure Gordon & Co

(Joint broker to the Company)

+44 20 7886 2500

James Sinclair-Ford

John Prior

 

Fortified Securities

(Joint broker to the Company)

+44 7493989014

Guy Wheatley

 

Tavistock

(Financial Public Relations)

+44 20 7920 3150

Nick Elwes

Simon Hudson

 

Plunkett Public Relations

+353 1 230 3781

Sharon Plunkett

 

 

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