22nd Jan 2021 13:57
Petroneft Resources PLC - Russia-focused oil & gas explorer - Reaches agreement with a group of five lenders to extend its USD1.3 million convertible loan facility to December 31, 2021 from December 31, 2020. Says the interest rate to remain at 8% above LIBOR.
Notes Chief Executive David Sturt, Non-Executive Director Daria Shaftelskaya and substantial shareholder Natlata Partners LLP make up three of the five investors, having loaned USD50,000, USD240,000 and USD560,000 respectively.
Current stock price: 1.05 pence
Year-to-date change: up 62%
By Ife Taiwo; [email protected]
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