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BRIEF-Anglo African Oil & Gas Says Zenith Will Advance Loan Of 250,000 Stg

Published 2020-01-06, 02:29 a/m
© Reuters.  BRIEF-Anglo African Oil & Gas Says Zenith Will Advance Loan Of 250,000 Stg
AAOG
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Jan 6 (Reuters) - Anglo African Oil & Gas PLC AAOG.L :

* UPDATE ON FINANCING AND RESIGNATION OF DIRECTOR

* TERM SHEET FOR PROVISION BY RIVERFORT OF LOAN NOTE, INITIAL TRANCHE OF £250,000 TO BE AVAILABLE ON CONCLUSION OF GM

* FURTHER TRANCHES OF £50,000 AVAILABLE TO BE DRAWN DOWN THEREAFTER EVERY MONTH BY MUTUAL AGREEMENT BETWEEN RIVERFORT, CO

* AGREEMENT WITH ZENITH WHO WILL ADVANCE LOAN OF £250,000, ESSENTIALLY ADVANCE ON CONSIDERATION DUE PURSUANT TO DISPOSAL

* DO NOT INTEND TO DEFER TERMS OF GM SINCE TO DO SO WOULD LIKELY BREACH TERMS OF SPA, PUT CO AT RISK OF CLAIM FROM ZENITH

* BRIAN MORITZ HAS RESIGNED AS A NON-EXECUTIVE DIRECTOR OF AAOG WITH IMMEDIATE EFFECT

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