No let up from Savannah, which has entered into a £0.9m convertible facility agreement and £1m option agreement to support Lekoil’s (LEK, Mkt cap £5m) proposed restructuring. This gives Lekoil the funds to pursue repayment of >US$350m of loans owed to it by its Nigerian operating subsidiary, Lekoil Nigeria. The two have been locked in a dispute since Lekoil Nigeria starved its parent of cash, prevented the appointment of nominated directors and launched a takeover bid last year. For Savannah, th ....
28 Feb 2022
Savannah Energy - Lekoil restructuring investment
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Savannah Energy - Lekoil restructuring investment
Savannah Energy Plc (SAVE:LON) | 26.4 0 0.0% | Mkt Cap: 346.7m
- Published:
28 Feb 2022 -
Author:
Jonathan Wright -
Pages:
4
No let up from Savannah, which has entered into a £0.9m convertible facility agreement and £1m option agreement to support Lekoil’s (LEK, Mkt cap £5m) proposed restructuring. This gives Lekoil the funds to pursue repayment of >US$350m of loans owed to it by its Nigerian operating subsidiary, Lekoil Nigeria. The two have been locked in a dispute since Lekoil Nigeria starved its parent of cash, prevented the appointment of nominated directors and launched a takeover bid last year. For Savannah, th ....