REG - Synergia Energy Ltd - Financing Update

Synergia EnergyAnnouncement

12/06/2024 11:00

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RNS Number : 1621S  Synergia Energy Ltd  12 June 2024

RNS Announcement

 

12 June 2024

 

AIM: SYN

Financing Update

 

Synergia Energy Limited ("Synergia" or the "Company") announces it has entered
into a further short-term loan to provide working capital pending the
Government of India ("GoI") approval of the transfer of 50% of the Company's
Cambay PSC to Selan Exploration Technology Limited ("Selan"). The GoI approval
is expected in the near future and this will trigger the payment of USD 2.5
million to the Company by Selan.

In order to minimise equity dilution for shareholders, the Company has
obtained further loan funding from existing investors of GBP400,000 on
commercial terms and on an unsecured basis. It is intended the loan funding
will be repaid from the abovementioned Selan payment, once received.

 

For and on behalf of Synergia Energy Limited

 

Roland Wessel

CEO

For further information, please contact:

 

 Investor Enquires           AIM Joint Broker                            AIM Joint Broker               AIM Nominated Adviser          Media Enquires (UK)

 Synergia Energy Ltd         Panmure Gordon (UK) Ltd                     Novum Securities               Strand Hanson Limited          Vigo Consulting

 Briana Stayt                Broker                                      Broker                         Nominated Adviser              Investor Relations

 Investor Relations          Mark Murphy / Hugh Rich / Freddie Wooding   Colin Rowbury                  Ritchie Balmer / Rory Murphy   Patrick d'Ancona / Finlay Thomson

 Email:                      Tel: +44 (0)20 7886 2500                    Email:                         Tel: +44 20 7409 3494          Email:

 bstayt@synergiaenergy.com   UK                                          crowbury@novumsecurities.com   UK                             patrick.dancona@vigoconsulting.com

 Tel: +61 8 9485 3200                                                    Tel: +44 20 7399 9427                                         finlay.thomson@vigoconsulting.com

 Australia                                                               UK                                                            Tel:+ 44 20 7390 0230

                                                                                                                                       UK

 

 

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