Cash Payment to Lind

RNS Number : 9015K

Edenville Energy PLC

02 September 2019

 

2 September 2019

EDENVILLE ENERGY PLC

("Edenville" or the "Company")

Cash Payment to Lind

Edenville Energy Plc (AIM: EDL), the AIM quoted company developing the Rukwa coal project in southwest Tanzania, announces that the second cash payment under the funding agreement (the "Funding Agreement") with Lind Partners LLC ("Lind") of US$50,637.38 was made on 30 August 2019. This follows the expiration of the repayment holiday that was described in the Company's announcement of 29 April 2019.  

A balance of US$934,087.50 remains outstanding under the Funding Agreement and is repayable on a monthly basis at an amount of US$50,637.38 per month.  The Company's intention is to satisfy subsequent repayments through cash rather than through the issuance of the Company's ordinary shares to Lind.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

For further information please contact:

Edenville Energy Plc Jeff Malaihollo - Chairman Rufus Short - CEO	[phone]
SP Angel Corporate Finance LLP (Nominated Adviser and Joint Broker) David Hignell Jamie Spotswood Abigail Wayne	[phone]
Brandon Hill Capital Ltd (Joint Broker) Oliver Stansfield, Jonathan Evans	[phone]
IFC Advisory Limited (Financial PR and IR) Tim Metcalfe Graham Herring Heather Armstrong	[phone]

 

END

 

 

MSCLTMMTMBBMBML