SDX.L

SDX Energy, Inc.
SDX Energy PLC - Completion of Refinancing of Convertible Loan
4th November 2024, 07:00
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RNS Number : 6932K
SDX Energy PLC
04 November 2024
 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY SDX TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

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4 November 2024

 

SDX ENERGY PLC ("SDX" or the "Company")

COMPLETION OF REFINANCING OF CONVERTIBLE LOAN

Further to its announcement on 29 October 2024, the Company is pleased to confirm that Aleph Finance Ltd (the "Lender") has delivered a funding statement (pursuant to the Amended Facility Agreement) covering approximately US$4.5 million, which has been used to repay the Existing Convertible Loan. The remaining balance under the Amended Facility Agreement of approximately US$2.0 million will be available to the Company when the Lender confirms that this amount has been funded by its sub-participants and delivers a further funding statement covering this additional amount. The Company intends to draw this amount when it becomes available and to apply the proceeds towards capital expenditure in Morocco and general corporate creditors. The Loan will be available for drawdown until 1 May 2025.

Daniel Gould, Chief Executive Officer, commented:

 

"I am pleased to inform shareholders that the refinancing of the convertible loan has been completed. The Aleph group continues to support SDX by providing finance to enable the Company to realise some of the potential value of its assets in Morocco."

 

For further information:

 

SDX Energy Plc

Daniel Gould, Chief Executive Officer

William McAvock, Chief Financial Officer

Tel: +44 (0) 20 3219 5640

 

 

 

Shore Capital (Nominated Adviser and Broker)

Toby Gibbs/Harry Davies-Ball

Tel: +44 (0) 20 7408 4090

 

InHouseIR (Investor and Media Relations)

Sarah Dees/Oliver Clark

Email: sdx@inhouseir.com

Tel: +44 (0) 7881 650 813 / +44 (0) 20 3239 1669

 

 

About SDX

For further information, please see the Company's website at www.sdxenergygroup.com or the Company's filed documents at www.sedar.com.

 

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