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Enforcement of RBL security by Gunvor Group

2015-04-08 16:42:29| Appliances - Topix.net

PA Resources AB announces, further to the announcement of 7 April that its largest creditor and shareholder, Gunvor Group, has demanded repayment of amounts due under the Company's reserve based lending facility , that the Company has received notice that Gunvor has taken action to enforce its security under the RBL, being a pledge over the Company's shares in its wholly-owned subsidiary, Osborne Resources Limited . Osborne owns interests in Equatorial Guinea, namely the producing Aseng and Alen fields, and the Block I exploration interest.

Tags: group security enforcement enforcement security

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