Europa Oil repays £1m loan from Union Jack
Hydrocarbon explorer and developer Union Jack Oil said on Wednesday that Europa Oil & Gas has repaid the loan facility entered into in September.
Europa Oil & Gas (Holdings)
0.80p
14:00 22/11/24
0.00%
0.00p
FTSE AIM All-Share
730.99
15:45 22/11/24
n/a
n/a
Oil & Gas Producers
8,192.34
15:44 22/11/24
0.57%
46.56
Union Jack Oil
9.70p
14:33 22/11/24
-0.51%
-0.05p
The AIM-traded firm said that, in accordance with the terms of the loan facility and charge agreements executed between Union Jack and Europa on 9 September, Europa had repaid the principal of £1m and applicable interest in full.
“Accordingly, the loan facility has been cancelled and the security held by Union Jack will now be released,” the board said in its statement.
At 1231 BST, shares in Union Jack Oil were down 2.59% at 28.25p, while those in Europa Oil & Gas Holdings were down 5.17% at 1.14p.
Reporting by Josh White at Sharecast.com.