Regulatory Story | |||
Go to market news section | |||
|
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
13 February 2020
Curzon Energy Plc('Curzon' or the 'Company')
Sale of Corporate Debt and Corporate Update
Curzon Energy Plc (LON:CZN) the London Stock Exchange listed oil and gas development company, has been informed by YA Global Investments, LP ('YA'), of the sale of its outstanding debt due to YA, to C4 Energy Ltd ('C4') a UK incorporated private company. The current balance of the loan agreement is US$200,000 with approximately US$32,000 of accrued interest.
Secured Loan Notes
Separately, the Company remains in discussions with the lenders of £200,000 of secured loan notes, as most recently announced on 18 October 2019. The Company expects to reach an agreement on a refinancing with the lenders of these notes in due course.
Corporate Update
Following a period of discussions between key stakeholders and investors in the business, the Directors have resolved to enlarge the focus of the Company to potentially include sectors outside of the energy sector.
The Directors have identified a number of attractive opportunities available for Curzon to potentially participate in and, following further evaluation, additional announcements will follow as appropriate. At this stage, there can be no assurance that these opportunities will lead to any transaction but the Directors remain committed to completing a transaction in the near term.
In light of these developments and overarching market conditions in the junior oil and gas space, the Company has ended discussions around a transaction with Pared Energy in Texas, as most recently announced on 27 September 2019.
For further information please contact:
Curzon Energy Plc | +44 (0) 20 7747 9980 |
Scott Kaintz | |
www.curzonenergy.com | |
SP Angel Corporate Finance LLP | +44 (0) 20 3470 0470 |
Richard Hail | |
Stephen Wong | |
Optiva Securities Limited | +44 (0) 20 3137 1902 |
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply. |
©2014London Stock Exchange plc. All rights reserved |
Sale of Corporate Debt and Corporate Update - RNS
Attachments
- Original document
- Permalink
Disclaimer
Curzon Energy plc published this content on 13 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 February 2020 07:05:17 UTC