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UK: Angus Energy announces signing of the Saltfleetby finance facility
13 May 2021
Loan Facility, conditional only on the setting of the hedge, regulatory approval of the royalty arrangement by the Oil and Gas Authority ( OGA ) and a handful of administrative provisions, has now been signed between
Angus and
Mercuria Energy Trading and
Aleph Saltfleetby, as the co-Lenders. As previously notified, the Company awaits approval of the
Field Development Plan from the OGA although this is now expected to follow the initial drawdown under the Facility.
The terms of the Loan Facility remain substantially unchanged from those advised in our RNS of 30 November 2020 with changes to the profile, but not amount, of shares issued to Lenders, to be detailed at drawdown, and tighter provisions on change of control.