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Extension of Director's Loan
Extension of Director's Loan.
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[{"type":"text","content":"\n \nLEKOIL LIMITED (LEK)LEKOIL LIMITED: Extension of Director's Loan07-Nov-2017 / 07:00 GMT/BSTDissemination of a Regulatory Announcement, transmitted by EQS Group.The issuer is solely responsible for the content of this announcement.\n\n7 November 2017\n\n \n\nLekoil Limited\n\n(\"LEKOIL\" or the \"Company\")\n\n \n\nExtension of Director's Loan\n\n \n\nLEKOIL (AIM: LEK), the oil and gas exploration and production company, with a focus on Nigeria and West Africa, announces that the Directors of the Company other than Lekan Akinyanmi (\"Independent Directors\") have extended the unsecured loan from the Company to Lekan Akinyanmi, which was previously granted on 9 December 2014 (the \"Loan\").\n\n \n\nAs disclosed in the Half Year Results for the Six Months to 30 June 2017, announced on 28 September 2017, the Loan has been extended for three years to 9 December 2020. All other terms of the Loan remain unchanged from those announced on 9 December 2014. \n\n \n\nThe extension of the term of the Loan is a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies. The Independent Directors consider, having consulted with Strand Hanson Limited, the Company's nominated adviser, that the terms of the transaction are fair and reasonable insofar as Lekoil's shareholders are concerned.\n\n \n\nFor further information, please visit www.lekoil.com or contact:\n\n \n\nLEKOIL Limited\n\nAlfred Castaneda, Investor Relations\n\nHamilton Esi, Corporate Communications\n\n+44 20 7920 3150\n\n \n\nStrand Hanson Limited (Financial & Nominated Adviser)\n\nJames Harris / James Spinney / Ritchie Balmer\n\n+44 20 7409 3494\n\n \n\nMirabaud Securities LLP (Joint Broker)\n\nPeter Krens / Edward Haig-Thomas\n\n+44 20 7878 3362 / +44 20 7878 3447\n\n \n\nBMO Capital Markets (Joint Broker)\n\nJeremy Low / Neil Haycock / Thomas Rider\n\n+44 20 7236 1010\n\n \n\nTavistock (Financial PR)\n\nSimon Hudson / Charles Vivian / Barney Hayward\n\n+44 20 7920 3150\n\n \n\n-ends-\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nISIN:\n\tKYG5462G1073\nCategory Code:\n\tMSCL\nTIDM:\n\tLEK\nSequence No.:\n\t4813\n \nEnd of Announcement\n\tEQS News Service\n\n\n\n\n625657  07-Nov-2017 \n\n\n\n ","length":11156,"tagName":"div"}]