Aminex PLC announced that it has agreed a funding facility with its larger shareholder, Eclipse Investments LLC (Eclipse). The main terms of the facility are:The facility is for $3 million, available for up to 24 months. The first $1.5 million tranche is guaranteed, with the remaining tranche available at Eclipse's discretion. Any advances drawn down will be set-off against the Company's $35 million carry in respect of the Ntorya development from ARA Petroleum Tanzania (Carry), at Eclipse's discretion. Interest will accrue on any advances at the rate of the Standard Overnight Financing Rate + 8%.If not already set-off against the Carry, Eclipse can demand repayment, but not before 31 December 2026. There is no security granted against the facility and no arrangement fees payable by the Aminex group.
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1.478 GBX | -3.08% | -9.88% | +90.71% |
May. 10 | Aminex acquires land for Ntorya to Madimba pipeline | AN |
May. 10 | Aminex Updates on Planned Gas Pipeline in Tanzania | MT |
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+21.30% | 82.42B | |
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