Update on Encha Payment
EFORA ENERGY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
JSE Share Code: EEL
(“Efora” or “the Company”)
UPDATE ON ENCHA PAYMENT
Shareholders of the Company (“Shareholders”) are referred to the announcement issued on SENS on 25 August 2020 wherein the Company provided an update on Encha Group Limited’s (“Encha”) indebtedness to the Company pursuant to an arbitration appeal award of R75.0 million plus interest and costs.
Encha has defaulted on the payment schedule that it had agreed with the Company, and which was set out in the Company’s SENS announcement of 25 August 2020.
The Company is considering its position, and will take appropriate legal action to enforce its rights.
23 September 2021
For further information please contact:
Efora Energy Limited
+27 (0)10 591 2260
Efora Energy Limited is a South African based independent African oil and gas company, listed on the JSE. The Company has a diverse portfolio of assets spanning production in Egypt; exploration and appraisal in the Democratic Republic of Congo; a midstream project relating to crude trading in Nigeria and material downstream distribution operations throughout Southern Africa. Our focus as a Group is on delivering energy for the African continent by using Africa’s own resources to meet the significant growth in demand expected over the next decade.
IMPORTANT NOTICE TO SHAREHOLDERS REGARDING THEIR SHARES
If you are in any doubt as to what action you should take, consult your CSDP, Broker, Banker, Legal Adviser, Accountant or other professional advisers immediately.
Or visit our Shareholder Information page for more information regarding your shareholding and share certificate.