Business
Annual results for the year ended 31 December 2025
Fenikso Limited has released its audited annual results for the year ended December 31, 2025, reporting a profit of $3.29 million, a significant increase from $0.91 million in the prior year. The company successfully repurchased a loan from Savanah Energy for $11.6 million, which had a total value of $16.3 million, resulting in a $1.7 million gain. Net assets grew to $22.9 million from $20.2 million, though cash balances decreased to $0.2 million from $2.7 million due to the loan buyback. The company continues to hold a substantial asset with over $34 million owed by LOGI, and plans to pursue further share buybacks in 2026. Disclaimer*
About this update from Fenikso Ltd
18 June 2026 Fenikso Limited ("Fenikso" or "the Company") Annual results for the year ended 31 December 2025 Fenikso Limited (AQSE: FNK), the Cayman Islands enterprise company, announces its final audited results for the year ended 31 December 2025 (the "Annual Report"). A copy of the Annual Report will shortly be available on the Company's website: https://feniksoplc.com/ The Directors of Fenikso accept responsibility for this announcement. For further information, please visit www.feniksoltd.com or contact: Fenikso Limited Thomas Richardson, Chairman [email protected] First Sentinel Corporate Finance Limited Brian Stockbridge, Corporate Adviser +44 7858 888 007 CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2025 2025 was the third year of trading under the name, Fenikso Limited, following the settlement agreement with Lekoil Nigeria which had been entered in to on December 31st 2022. The first year was spent repaying creditors that had been built up over the course of the litigation against Lekoil Nigeria. The second year saw Fenikso accumulate cash and make its initial investments in order to grow the cash that it received from LOGI. The third year has focused on Fenikso building up further cash in order to repay Savanah Energy in its entirety and buy back some of its shares. The board has continued to be focused on short term high yielding investments however an opportunity arose in Q2 of 2025 to buy back the entirety of the Savanh loan during the remainder of the year. The board prioritized this as it was able to recognize a significant saving on the total loan amount that is reflected in the profit and loss account for the full year of 2025. The Company paid US$11.6m to Savanah to buy back a loan with a total value of US$16.3m. This resulted in a gain through the profit and loss account this year of US$1.7m. This depleted the cash position of the Company but the board strongly believed this was in the best interests of shareholders given the discount available. Looking forward to 2026 the Company will continue to try to buy back shares during 2026 as the board believes at current share price levels it is extremely value accretive. The board will be seeki...