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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Jubilant Energy | LSE:JUB | London | Ordinary Share | NL0009513993 | ORD EUR0.01 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.60 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMJUB
RNS Number : 4110X
Jubilant Energy N.V.
28 August 2015
28 August, 2015
Jubilant Energy N.V.
("Jubilant" or "the Company")
Funding Agreement Signed
Jubilant is pleased to announce that on 25 August, 2015 it entered into a funding agreement with Vernons Financial Ltd., an independent British Virgin Islands-based investment vehicle, for an amount of USD 13.5 million by way of an unsecured loan ("Loan"). The tenor of the Loan is five years with maturity on 31(st) August, 2020. The initial tranche of the Loan is USD 12.5 million, with additional tranches to be drawn on a mutually agreed basis. The Loan will bear interest at a rate of 8% per annum ("p.a.") for the first two years and 9.5% p.a. for rest of the tenure, out of which interest at the rate of 2% p.a for first two years will be paid on half-yearly basis and balance interest will be compounded, to be paid at maturity date. The interest payment of 2% p.a for first two years is secured by a corporate guarantee of Jubilant Energy (Holding) BV* (the "Guarantee"). These funds will be used to refinance and to service the Company's existing debt.
The Guarantee is deemed to be related party transactions pursuant to AIM Rule 13. The Independent Directors of the Company, having consulted with its nominated adviser, consider that the terms of the Guarantee are fair and reasonable in so far as its shareholders are concerned.
*Jubilant Energy (Holding) BV is a substantial shareholder of the Company, holding approximately 85% of the voting rights of the Company and is directly or indirectly, owned and controlled by Mr S S Bhartia, who is Non Executive Director and Chairman, and Mr H S Bhartia, who is Non Executive Director and Co-Chairman of the Company.
Enquiries: Jubilant Energy Nikhil Pandey +91 120 7186000 Dominic Morley, Adam Panmure Gordon James +44 20 78862500
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
August 28, 2015 02:59 ET (06:59 GMT)
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