27 November 2023
San Leon Energy plc
("San Leon" or the "Company")
Update on investment from Tri Ri Asset Management Corp.
San Leon, the independent oil and gas production, development and exploration company focused on Nigeria, provides the following update on the investment of up to US$187 million into the Company by Tri Ri Asset Management Corp. ("TRAM"). The investment was announced by the Company on 10 October 2023 and comprised a loan facility, issue of warrants and subscription for new ordinary shares of ?0.01 each in the Company.
As previously announced on 2 November 2023, TRAM had confirmed to San Leon that funds were in the process of being transferred to San Leon in respect of the loan facility. TRAM also subsequently confirmed to San Leon that funds had been transferred in respect of the subscription. To date, neither payment has been received by the Company and San Leon continues to work with TRAM to understand the reasons for the delay and to enable funds to be released.
Further announcements will be made in due course.
Enquiries:
| San Leon Energy plc | +353 1291 6292 |
| Oisin Fanning, Chief Executive Julian Tedder, Chief Financial Officer |
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| Allenby Capital Limited (Nominated adviser and joint broker to the Company) | +44 20 3328 5656 |
| Nick Naylor Alex Brearley Vivek Bhardwaj |
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| Panmure Gordon & Co (Joint broker to the Company) | +44 20 7886 2500 |
| James Sinclair-Ford John Prior |
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| Fortified Securities (Joint broker to the Company) | +44 7493989014 |
| Guy Wheatley |
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| Tavistock (Financial Public Relations) | +44 20 7920 3150 |
| Nick Elwes Simon Hudson |
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| Plunkett Public Relations | +353 1 230 3781 |
| Sharon Plunkett |
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