27th Apr 2015 08:16
LONDON (Alliance News) - Circle Oil PLC on Monday said it has signed a deal to amend its convertible loan deal with Circle Link Sarl originally signed in 2007.
Circle said under the amended agreement, it will repay USD10 million before July 19, with the remaining USD20 million to be extended to July 2017 at a revised conversion price of 13.6 pence per share. Circle also will have the right to further extend the repayment date to 2018 and 2019 on the amended terms.
Circle Link is a subsidiary of Kuwait-based KGL Investment Co.
Shares in Circle Oil were down 0.9% to 11.2751 pence on Monday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Circle Oil Plc