logo-loader
EnergyOil & Gas
i3 Energy PLC

i3 Energy secures further investment from Lombard Odier

Subject to the closing of the Lombard Odier Investment and the junior facility, the company will be funded for its summer 2019 drilling programme.

Fivers
Lombard Odier is an existing stakeholder in i3

Lombard Odier has conditionally agreed to make another investment in i3Energy PLC (LON:I3E), the independent oil and gas company.

Funds managed by Lombard Odier Asset Management will buy £3mln of i3 loan notes, which will be issued under the same terms at the junior loan package announced on 25 February.

READ I3 Energy agrees terms of £24mln junior loan package for Liberator programme

The asset manager has also signed up to take £2mln of new shares issued at 37p a pop and warrants to subscribe for £3mln of new shares.

“We are very pleased to announce this conditional further investment in the company by Lombard Odier, a very supportive existing shareholder, and look forward to imminently closing the junior facility to fund this summer's drilling campaign at our Liberator and Serenity assets,” said Majid Shafiq, the chief executive officer of i3 Energy.

Quick facts: i3 Energy PLC

Price: £0.23

Market: AIM
Market Cap: £21.49 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of i3 Energy PLC named herein, including the promotion by the Company of i3 Energy PLC in any Content on the Site, the Company receives from said...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

i3 Energy grants exclusivity period to potential farm-in partner for...

i3 Energy PLC's (LON:I3E) Graham Heath tells Proactive's Andrew Scott they've granted a period of exclusivity to an unnamed company for a potential farm-in deal for both the Liberator and Liberator West blocks in the UK North Sea. Heath says the contractual negotiations would, if...

on 27/6/18

RNS

Second Price Monitoring Extn

21 hours, 45 minutes ago

Price Monitoring Extension

21 hours, 50 minutes ago

Operations Update

1 day, 4 hours ago

Holding(s) in Company

5 days, 4 hours ago

Holding(s) in Company

1 week, 2 days ago

Holding(s) in Company

1 week, 2 days ago

Second Price Monitoring Extn

1 week, 4 days ago

2 min read