Business
Agreement with Lind Partners and £900,000 Placing
Agreement with Lind Partners and £900,000 Placing.
About this update from Shuka Minerals Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7792L\n Edenville Energy PLC\n 15 January 2021\n \n \n \n \n This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014. Market soundings, as defined in MAR, were taken in respect of the Placing with the result that certain persons became aware of inside information, as permitted by MAR. That inside information is set out in this announcement and has been disclosed as soon as possible in accordance with paragraph 7 of article 17 of MAR. Therefore, those persons that received inside information in a market sounding are no longer in possession of inside information relating to the Company and its securities.\n \n \n \n \n \n \n \n \n 15 January 2021\n \n \n \n \n \n EDENVILLE ENERGY PLC\n \n \n (\"Edenville\" or the \"Company\")\n \n \n \n \n \n Agreement Reached with Lind Partners LLC\n \n \n Oversubscribed Placing to Raise £900K\n \n \n New Strategic Shareholder\n \n \n \n \n \n Edenville Energy Plc (AIM: EDL), the AIM quoted company operating the Rukwa Coal Project in southwest Tanzania (\"Rukwa\") is pleased to provide the following corporate update. \n \n \n \n \n \n Funding Agreement with Lind Partners LLC - Update\n \n \n \n \n \n The Company provides an update regarding its outstanding funding agreement with Lind Partners LLC (\"Lind\"), that was first announced on 6 November 2018 (the \"Funding Agreement\"). \n \n \n \n \n \n As announced on 6 October 2020, Lind requested Edenville repay the total outstanding balance of the Funding Agreement, being US$580,000, by 30 November 2020. The Company has since been engaged in a constructive dialogue with Lind regarding the repayment terms of the Funding Agreement and is pleased to report the revised repayment schedule has been agreed as follows:\n \n \n - The company will pay Lind US$116,000 in cash, being 20% of the outstanding debt, by 31 January 2021;\n \n \n - The remainder, being US$464,000, will be repaid in monthly instalments of US$50,000 starting from the end of April 2021; \n \n \n - The monthly instalments may be paid in cash or via the issuance of shares by mutual agreement; and\n \n \n - No further interest or charges will be applied to the US$580,000 headline figure.\n \n \n Following settlement ...