Andalas Energy and Power Plc Extension of Term of Loan note

 
TIDMADL 
 
26 April 2017 
 
                         Andalas Energy and Power Plc 
 
                         ('Andalas', or the 'Company') 
 
                        Extension of Term of Loan note 
 
Andalas Energy and Power Plc (AIM: ADL) is pleased to announce an update on its 
zero coupon loan note ('the Loan Note') issued to Sandabel Capital L.P 
('Sandabel'). 
 
Sandabel has agreed to extend the Maturity Date of the GBP500,000 Loan Note to 28 
July 2017 ("the Maturity Date").  The fee associated with the extension is GBP 
50,000, which will be repaid alongside the GBP500,000 loan note on or before the 
maturity date.  The loan note only becomes convertible into equity in the event 
that the Loan Note is not repaid by the Maturity Date.  All other terms of the 
Loan Note (announced on 1 February 2017) remain unchanged. 
 
Dave Whitby, CEO of Andalas, said, "We thank Sandabel for their continued 
support in extending the loan note.  We are making important progress with 
Pertamina and in seeking strategic partners who can bring complementary skills 
and resources to progress our strategy." 
 
The information contained within this announcement is deemed by the Company to 
constitute inside information as stipulated under the Market Abuse Regulations 
(EU) No. 596/2014 ('MAR).  Upon the publication of this announcement via a 
Regulatory Information Service ('RIS'), this inside information is now 
considered to be in the public domain. 
 
                                   **ENDS** 
 
For further information, please contact: 
 
David Whitby          Andalas Energy and Power Plc   Tel: [phone] 
 
Sarah Wharry          Cantor Fitzgerald Europe       Tel: [phone] 
Craig Francis         (Nominated Adviser and Joint 
                      Broker) 
 
Jon Belliss           Beaufort Securities Limited    Tel: [phone] 
                      (Joint Broker) 
 
 
Frank Buhagiar        St Brides Partners Limited     Tel: [phone] 
Susie Geliher 
 
 
 
END 
 

(END) Dow Jones Newswires

April 26, 2017 04:45 ET (08:45 GMT)