Saltfleetby Loan Facility Update
Angus Energy plc (AIM: ANGS) is pleased to announce, further to the RNS of 19 January 2021 that the Company has received a best efforts expression of commitment in the form of a conditional Mandate Letter, for between £8 and £9 million toward the proposed £12 million Saltfleetby Equipment Finance and Field Development Loan Facility from a major multi-national institution (the Mandate Letter ). The Mandate commitment is conditional also on the participation of other institutions and investors for the balance of £3 to £4 million.
The Company has also been informed of indications and soft commitments for the same Loan Facility of approximately £11 million from an identified group of investors led by Aleph Energy ( Aleph ). In each instance the terms of the Loan Facility are substantially unchanged from those disclosed in the RNS of 19 January 2021.
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2020 was an interesting and unprecedented year. Obviously, we
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