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.
20 September 2024
SDX ENERGY PLC ("SDX" or the
"Company")
UPDATE ON CONVERTIBLE
LOAN
As announced on 4 September 2024, the Company
and Aleph Finance Ltd (the "Lender") signed
a new agreement (the "New Facility Agreement") that would refinance
the Company's syndicated unsecured convertible loan agreement with
the Lender for up to US$3.25 million (the "Existing
Convertible Loan").
The Lender and the Company are now negotiating
to amend the terms of the New Facility Agreement. Therefore, the
General Meeting that was to be held at 11.00 a.m. on Friday 20
September 2024 at 38 Welbeck Street, London, W1G 8DP will not be
held. However, the Annual General Meeting will be held at 11.30
a.m. on Friday 20 September 2024 at 38 Welbeck Street, London, W1G
8DP.
The syndicated Existing Convertible Loan is
unsecured, convertible at any time at the option of the individual
lenders and repayable on 24 July 2024. The Company has requested
and the Lender has consented and agreed to repayment of the
Existing Convertible Loan
being delayed, provided that the New Facility Agreement is
entered into on or before 11 October 2024. The amount payable is
US$3.82 million (principal
US$3.25 million and interest
US$0.57 million).
By 11 October 2024, the Company plans to
convene a general meeting to ask shareholders to vote on the
amended terms of the New Facility Agreement.
A further announcement will be made in due
course.
For
further information:
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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
|
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InHouseIR (Investor and Media Relations)
Sarah Dees/Oliver Clark
Email:
sdx@inhouseir.com
Tel: +44 (0) 7881 650 813 / +44 (0)
20 3239 1669
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|
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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.
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.