San Leon Energy PLC Execution of New ELI Investments documentation (0435T)

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RNS Number : 0435T

San Leon Energy PLC

20 July 2022

San Leon Energy plc

("San Leon" or the "Company")

Execution of New ELI Investments documentation

San Leon, the independent oil and gas production, development and exploration company focused on Nigeria announces that, further to the Company's AIM Admission Document published on 8 July 2022 (the "Admission Document"), the documents in respect of the New ELI Investment have now been signed by the relevant parties, being ELI Malta and San Leon Energy Financing.

The New ELI Investment comprises of:

(i) the New ELI Loan from San Leon to ELI of US$16,000,000 at a coupon of 14% per annum over four years and repayable quarterly following a one-year moratorium; and

(ii) the New ELI Subscription at nominal value of a further 10 per cent. of ELI's diluted share capital.

Details of the New ELI Investment, which remains conditional, amongst other things, on San Leon shareholder approval at the EGM convened for 5 August 2022, were announced by the Company on 8 July 2022 and can be found in the Admission Document which is available on the Company's website: https://www.sanleonenergy.com .

Unless otherwise defined herein, the capitalised defined terms used in this announcement have the same meaning as those used in the Admission Document.

Enquiries:

 
 San Leon Energy plc                                     +353 1291 6292 
 Oisin Fanning, Chief Executive 
  Julian Tedder, Chief Financial Officer 
 Allenby Capital Limited 
  (Nominated adviser and joint broker to the Company)    +44 20 3328 5656 
 Nick Naylor 
  Alex Brearley 
  Vivek Bhardwaj 
 Panmure Gordon & Co 
  (Joint broker to the Company)                          +44 20 7886 2500 
 Nick Lovering 
  James Sinclair-Ford 
 Tavistock 
  (Financial Public Relations)                           +44 20 7920 3150 
 Nick Elwes 
  Simon Hudson 
 Plunkett Public Relations                               +353 1 230 3781 
 Sharon Plunkett

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July 20, 2022 02:00 ET (06:00 GMT)

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