Maple Energy plc Ethanol Business Update (2404J)

TIDMMPLE

RNS Number : 2404J

Maple Energy plc

01 April 2015

01 April 2015

MAPLE ENERGY PLC

("Maple" or the "Company")

Ethanol Business Update

Further to the announcement made by the Company on 22 December 2014 regarding the senior secured loans (the "Ethanol Loans") provided to Maple Etanol S.R.L and Maple Biocombustibles S.R.L (together, the "Ethanol Companies") by their senior lenders ("Ethanol Senior Lenders"); and the execution of a term sheet which defined the steps and actions to be taken in order to repay the outstanding balance of the Ethanol Loans, by the Company and the Ethanol Senior Lenders (the "Term Sheet"), the Company provides the following update:

-- In accordance with the Term Sheet, Fondo de Inversión en Infrastructura, Servicios Públicos y Recursos Naturales ("ACC") disposed of all of its class A convertible shares and class B convertible preferred shares in The Maple Companies, Limited in exchange for a payment of US$750,000, which was funded by the Senior Lenders. The final payment to ACC was made on 17 March 2015.

-- The Ethanol Companies were informed on 27 March 2015 that the trustee acting on behalf of the Ethanol Senior Lenders (the "Trustee") had transferred the ownership of all the fixed assets of the Ethanol Companies that were part of the collateral under the Ethanol Loans to subsidiaries of Grupo Gloria, a Peruvian group of companies, for a total consideration of US$108 million before any value added tax applicable. The Trustee will apply the proceeds of the sale to reduce, in part, the outstanding balance of the Ethanol Loans. Further information on the Ethanol Loans is set out in the Company's 2013 Annual Report which can be found at www.maple-energy.com.

-- The Company intends to continue working with the Ethanol Senior Lenders to progress the steps and actions agreed under the Term Sheet in order to repay the outstanding balance of the Ethanol Loans.

Trading in the Company's shares on AIM will remain suspended at this time.

A further update will be provided in due course.

For further information, please contact:

Maple Energy plc (+ 51 1 611 4000)

Guillermo Ferreyros, Chief Executive Officer and Executive Director

Cenkos Securities plc (+ 44 131 220 6939)

Derrick Lee

Neil McDonald

This information is provided by RNS

The company news service from the London Stock Exchange

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