Business
?5 million Financing Facility Agreed
?5 million Financing Facility Agreed.
About this update from Shuka Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 9542A Edenville Energy PLC 27 March 2013 \n \n\n27 March 2013\nEdenville Energy\n£5m Financing Facility Agreed\n \nThe Board of Edenville Energy Plc (\"Edenville\" or the \"Company\") is pleased to announce that it has entered into a £5 million Equity Financing Facility (\"EFF\") with Darwin Strategic Limited (\"Darwin\"), a majority owned subsidiary of Henderson Global Investors' Volantis Capital (\"Henderson Volantis\").\n \nCommenting, Sally Schofield, Chairman said: \"We are delighted to receive support from Darwin Strategic and the fund management team at Henderson Volantis. This new £5 million facility gives Edenville access to efficient, cost effective financing, as needed. The facility can be used entirely at our discretion and considerably reduces our future financing risk.\"\n \nFurther details of the EFF can be found below.\n \n\n\n\n\nEdenville Energy plc\n\n\nTel: +44 20 7653 9855\n\n\n\n\nSally Schofield (Chairman)\nRakesh Patel (Finance Director)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nfinnCap \n\n\nTel: +44 20 7220 0500\n\n\n\n\nCharlotte Stranner / Geoff Nash\n \nDarwin Strategic Ltd\nAnand Sambasivan / Jamie Vickers\n \n\n\n \n \nTel: +44 20 7938 5754\n\n\n\n\n\n\n\n\n\n\n\n\nNewgate Threadneedle\n\n\nTel: +44 20 7653 9850\n\n\n\n\nGraham Herring / Richard Gotla\n\n\n\n\n\n\n\n \n \nRelated Party Transaction\n \nHenderson Global Investors is currently a holder of 937,643,910 Ordinary Shares in the Company, representing approximately 21% of the Company's issued share capital. As Darwin is ultimately majority owned by Henderson Volantis, entering into the EFF constitutes a Related Party Transaction for the purposes of AIM Rule 13 of the AIM Rules for Companies.\n \nThe Company's Directors consider, having consulted with the Company's Nominated Adviser, finnCap Limited, that the terms of the EFF are fair and reasonable insofar as the Company's shareholders are concerned.\n \nFurther details of the Equity Finance Facility\n \nThe EFF agreement with Darwin and Henderson Volantis provides Edenville with a facility of up to £5 million which (subject to certain limited restrictions) can be drawn down at any time over the next three years. The timing and minimum subscription price of any draw down is ...