11th Jun 2015 07:27
LONDON (Alliance News) - Jubilant Energy NV Thursday said an operating subsidiary in India signed a funding agreement with Jubilant Enpro Private Ltd for an unsecured loan facility of about USD1.56 million, funds it will use for capital, operating and general corporate expenditure.
The loan will run for seven years and has an interest rate of 14% a year, it said.
The deal is a related party transaction because Jubilant Enpro Private Ltd is the holding company of Jubilant Energy (Holding) BV, which holds about 85.0% of the voting rights in Jubilant Energy NV.
Jubilant Energy shares were untraded Thursday morning. The stock last traded at 2.76 pence.
By Steve McGrath; [email protected]; @stevemcgrath1
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
JUB.L