SDX Energy PLC Completion of Refinancing of Convertible Loan

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.

 

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: [phone]
Shore Capital (Nominated Adviser and Broker) Toby Gibbs/Harry Davies-Ball Tel: [phone]
InHouseIR (Investor and Media Relations) Sarah Dees/Oliver Clark Email: [e-mail] Tel: [phone]

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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