Mustang Energy PLC VRFB-H Investment -- Extension of Notice Period (0413G)
25 Marzo 2022 - 2:30AM
UK Regulatory
TIDMMUST
RNS Number : 0413G
Mustang Energy PLC
25 March 2022
Friday 25 March, 2022
Mustang Energy PLC
VRFB-H Investment - Extension of Notice Period
Mustang Energy PLC ("Mustang" or the "Company"), the special
purpose acquisition company, provides the following update on its
investment in VRFB Holdings Limited ("VRFB-H"), further to the
announcement on 8 March 2022 regarding VRFB-H successfully
defending High Court proceedings brought against it.
As announced on 18 March 2022 the Company has negotiated terms,
in principle and subject to contract, with the holders of
US$8,000,000 Convertible Loan Notes ("CLNs") to provide for the
extension of the Maturity Date of the CLNs to facilitate the
proposed readmission of the Company's shares to trading on the
Standard List of the London Stock Exchange.
The terms have been documented and relevant documents are
currently in the process of being executed by all parties. To allow
time for execution to be completed Bushveld Minerals Limited
("Bushveld") and Mustang have agreed to extend the notice period
for Mustang to issue notice to Bushveld in respect of the backstop
(as announced on 19 January 2022) until Monday 28 March 2022.
The Company will provide further updates in due course.
ENQUIRIES
For further information, please visit www.mustangplc.com ,
follow us on Twitter @Mustang_Plc , or contact:
Mustang Energy PLC
Dean Gallegos, Managing Director
dg@mustangplc.com
+61 416 220 007
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END
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