REG - SDX Energy PLC - Update on Convertible Loan

SDX EnergyAnnouncement

25/07/2024 07:00

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RNS Number : 7389X  SDX Energy PLC  25 July 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.

 

25 July 2024

 

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

UPDATE ON CONVERTIBLE LOAN

As announced on 27 July 2023, the Company entered into a syndicated unsecured
convertible loan agreement with Aleph Finance Ltd (the "Lender") for up to
US$3.25 million (the "Convertible Loan").

The syndicated Convertible Loan is unsecured, convertible at any time at the
option of the individual lenders and repayable on 24 July 2024. The amount
payable is US$3.82 million (principal US$3.25 million and interest
US$0.57 million).

The Lender and the Company are discussing entry into a new agreement (the "New
Facility Agreement") and have today signed a non-binding term sheet for that
proposed New Facility Agreement between the Lender and the Company. The New
Facility Agreement would refinance the Convertible Loan.

Together with the signing of the term sheet, the Company has requested and the
Lender has consented and agreed to repayment being delayed, provided that the
New Facility Agreement is entered into by the Borrower on or before 13
September 2024.

In the coming weeks, the Company will convene a general meeting to ask
shareholders to vote on the New Facility Agreement (the "General Meeting").
Therefore, the Company is deferring its Annual General Meeting from 29 July
2024 to a later date, when it will hold both the Annual General Meeting and
the General Meeting on the same day.

There can be no certainty that the Lender and the Company will enter into the
New Facility Agreement and it remains subject to, inter alia, customary due
diligence, entry into definitive transaction documentation and shareholder
approval.

A further announcement will be made in due course.

 

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
(https://url.avanan.click/v2/___http:/www.sdxenergygroup.com/___.YXAxZTpzaG9yZWNhcDphOm86MDEzNTAyODI2ZTNhZWY5ZWM4YWU4MGY3MmNiNjhiMDc6Njo4MDY2OmIyZDJhNDdjNTNhNWU3Yjc5Y2VjZDQ5MzgxZTRkZWJlNTE2NjQyYTMwOTk0NmQwOGZjN2U4MWIyMzIxODExNjM6cDpU)
or the Company's filed documents at www.sedar.com
(https://url.avanan.click/v2/___http:/www.sedar.com/___.YXAxZTpzaG9yZWNhcDphOm86MDEzNTAyODI2ZTNhZWY5ZWM4YWU4MGY3MmNiNjhiMDc6NjplNWE4OjE1YTQ5NzZmMjEyMWQ5MjgyZjhkZjI1YmQzNmU3YzE3ODdlMWMyY2MwM2E4YjBiYTJmY2M3ODk2ZWE5MmI3YTM6cDpU)
.

 

Forward-looking information

Certain statements contained in this press release may constitute
"forward-looking information" as such term is used in applicable Canadian
securities laws. Any statements that express or involve discussions with
respect to predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or are not statements of historical fact should
be viewed as forward-looking information.

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