Fenikso Limited Notification of First Investments
16 Agosto 2024 - 4:29AM
RNS Regulatory News
RNS Number : 7805A
Fenikso Limited
16 August 2024
Fenikso Limited
Notification of First
Investments
16th August 2024: Fenikso
Limited (AQSE: FNK) (the "Company") announces that
it has made the first investments under its
new strategy to make its
cash generate higher returns whilst it continues to
receive payments under the LOGI loan. The
Company has invested in certain fixed income instruments with
returns higher than 10% per annum.
One of the investments relates to
a six-month secured convertible loan agreement
with Coro Energy PLC ("Coro") (the "Loan""). The Loan is lower than
5% of the Company's assets however the Company notes the
announcement by Coro
and discloses below the related party nature of the
transaction. Following the
investment the Company retains a cash balance in
excess of US$5,000,000. The Company will continue to consider ways
to enhance the return on its cash including a share buy back as
approved under the recent Annual General Meeting.
Rule 4.6 Statement
Tom Richardson, Chairman of Fenikso
is also a Director of Coro. The directors (other than Tom
Richardson) confirm that, having exercised reasonable care, skill
and diligence, the related party transaction is fair and reasonable
as far as the shareholders of the issuer are concerned.
For further information, please
visit www.feniksoplc.com
or contact:
|
Fenikso Limited
Thomas Richardson,
Chairman
|
info@feniksoplc.com
|
|
First Sentinel Corporate Finance Ltd (AQSE Corporate
Adviser)
Brian Stockbridge
|
+44 203
855 5551
|
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END
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