Oilex extends loan repayment date to March

24th Dec 2020 12:23

(Sharecast News) - Oilex has entered into an amendment agreement to vary the repayment obligations for its series C loan of £0.125m, it announced on Thursday.
The AIM-traded firm had advised on 30 October that it had entered into an amendment agreement to vary the terms of the loan funding facility originally entered into on 4 February, so that the new repayment date was extended to 31 December.

Under the amendment agreement announced on Thursday, the loan repayment date was extended again, from 31 December to 31 March.

"All other terms related to the extension of the repayment date remain unchanged and no further options have been issued in respect to the further extension," the Oilex board said in its statement.

At 1047 GMT, shares in Oilex were down 2.07% at 0.071p.