Business
Operational Update & Final conversion of notes
Operational Update & Final conversion of notes.
About this update from Angus Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1593E\n Angus Energy PLC\n 04 November 2020\n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU No. 596/2014) (\"MAR\"). THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \n 4 November 2020\n Angus Energy Plc\n (\"Angus Energy\" or the \"Company\")\n \n Operational Update\n \n Final conversion of notes\n and\n Total Voting Rights\n \n \n \n \n Angus Energy (AIM: ANGS) is pleased to announce further progress in the reconnection of the Saltfleetby Gas Field to the national gas transmission network and the acquisition of key components of the processing plant necessary to deliver gas to statutory specification.\n \n \n Specifically Angus has entered into agreements, with relatively modest initial financial commitments, to acquire a full fiscal metering and gas analysis system, two Caterpillar gas driven engine system, two Ariel Compressor Units, one of the most up-to-date, fully shrouded, emergency flaring systems and expects to follow with finalisation of terms on a gas dehydration and dewpoint control unit. \n \n \n Simultaneously, as part of the work to complete the connection to the national transmission system, Angus is pleased to announce the successful outcome to two extended horizontal directional drills and threading of the Soluforce 4\" pipeline to within 15 metres of the national transmission grid entry point at Theddlethorpe ready to be connected at surface - the first instance of very high pressure, Hydrogen-capable pipework in a commercial connection to the national transmission system. The Company will now turn all its attentions to completing the 10\" connection. \n \n \n Termination of Riverfort/YA Loan Facility \n \n \n \n \n \n The Company today also announces that, in relation to the £1.5 million convertible loan facility announced on 25 October 2019 (the \"Loan\") and amended on 20 April 2020, it has received a notice from Riverfort Global Opportunities PCC Limited and YA II PN Ltd (\"Investors\") to convert the final £58,335 of the Loan into Angus shares. After today's conversion there are no outstanding liabilities between the Company and the Noteholders.\n \n \n The Company has therefore today allotted 9,678,945 new ordinary shares to the noteholders (\"Relevant Share...