RNS Number : 1621S
Synergia Energy Ltd
12 June 2024
 

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RNS Announcement

 

12 June 2024

 

AIM: SYN

Financing Update

 

Synergia Energy Limited ("Synergia" or the "Company") announces it has entered into a further short-term loan to provide working capital pending the Government of India ("GoI") approval of the transfer of 50% of the Company's Cambay PSC to Selan Exploration Technology Limited ("Selan"). The GoI approval is expected in the near future and this will trigger the payment of USD 2.5 million to the Company by Selan.

In order to minimise equity dilution for shareholders, the Company has obtained further loan funding from existing investors of GBP400,000 on commercial terms and on an unsecured basis. It is intended the loan funding will be repaid from the abovementioned Selan payment, once received.

 

For and on behalf of Synergia Energy Limited

 

Roland Wessel

CEO

For further information, please contact:

 

Investor Enquires

Synergia Energy Ltd

Briana Stayt

Investor Relations

Email: 

bstayt@synergiaenergy.com

Tel: +61 8 9485 3200

Australia

AIM Joint Broker

Panmure Gordon (UK) Ltd

Broker

Mark Murphy / Hugh Rich / Freddie Wooding

Tel: +44 (0)20 7886 2500

UK

AIM Joint Broker

Novum Securities

Broker

Colin Rowbury

Email: 

crowbury@novumsecurities.com

Tel: +44 20 7399 9427

UK

AIM Nominated Adviser

Strand Hanson Limited

Nominated Adviser

Ritchie Balmer / Rory Murphy

Tel: +44 20 7409 3494

UK

Media Enquires (UK)

Vigo Consulting

Investor Relations

Patrick d'Ancona / Finlay Thomson

Email:

patrick.dancona@vigoconsulting.com

finlay.thomson@vigoconsulting.com

Tel:+ 44 20 7390 0230

UK

 

 

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