Oilex gets loan repayment extensions following oil price rout

Mon, 16th Mar 2020

Sydney and London listed Oilex said it had agreed an extension on the repayment date of two loans in the wake of the tumbling oil price. The loan repayment date for a A$0.25m series B loan had been extended to 31 July 2020, back from 1 April 2020. All other terms remained the same, except for the issue of new options on different terms and conditions. Oilex had also agreed to vary the terms of series C loan worth £0.35m, including £0.23m of the facility being be rolled into a new, series D loan. The terms and conditions of the remaining £0.13m under the series C facility would remain unchanged. Under the new series D loan, the repayment date had been extended to 31 March 2021 from 1 August 2020. At 9:16am: (LON:OEX) Oilex Ltd share price was -0.01p at 0.11p Story provided by StockMarketWire.com

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