Fenikso Limited - Receipt of funds for repayment of US$51.9m loan

Announcement provided by

Fenikso Limited · FNK

22/12/2023 08:11

RNS Number : 7672X

Fenikso Limited

22 December 2023

Fenikso Limited

Receipt of funds for repayment of US$51.9m loan

22^nd December 2023: Fenikso Limited (AQSE: FNK) (the "Company"), the Cayman Islands enterprise company formerly known as Lekoil Limited, announces the receipt of funds under the Lekoil & Gas Investments ("LOGI") Loan entered in to on 31 December 2022 as part of the Fenikso restructuring. Fenikso Limited received US$695,521 as partial repayment of the loan of US$51,919,467 the remaining balance is US$45,187,584. The amount received equates to 8.65% of the most recent payment from crude oil sales received by LOGI. The next payment is scheduled before the end of January 2024. The proceeds will go towards repaying the Savanah Energy Investments Limited loan, which currently has an outstanding balance of US$14,061,409and towards building up cash in Fenikso. Post the payment to Savanah Energy the Company expects to have over US$2,000,000 of cash on its balance sheet.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

For further information, please visit www.feniksoltd.com or contact:

First Sentinel Corporate Finance Ltd (AQSE Corporate Adviser)

Brian Stockbridge

+44 203 989 2200

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