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Wednesday, February 20, 2018 /8:20 AM /NSE
Japaul Oil and Maritime services Plc
wishes to notify its shareholders and other stakeholders that the company has
entered into a binding commitment with Milost Global Inc., an American Private
Equity firm with Head Office in New York City, USA. This is in line with the
mandate received from the company's shareholders at the Annual General Meeting
held on Thursday the 30th day of June, 2016 on her 11th Annual General Meeting.
The facility is in form of $250 million Equity injection and $100 million
Convertible Notes. This will help to bail out the Company from the present
financial situation.
Japaul therefore seeks the
understanding and cooperation of its stakeholders, as it will soon commence the
transaction by going through all the laid down rules and regulations of
Securities & Exchange Commission (SEC) and The Nigerian Stock Exchange
(NSE), because the commitment is still subject to regulatory approvals.
The Company shall be communicating this
financing commitment to the Shareholders as necessary.
Related News
1. Japaul Oil and
Maritime Services Plc Appoints Mr. Akinloye Daniel Oladapo as Ag. Managing
Director
2. JAPAULOIL
Declares N2.72 billion Loss in Q2'17 Result,(SP:N0.50k)
3. JAPAULOIL
Declares N519.73 million Loss in Q1'17 Result,(SP:N0.50k)
4. JAPAULOIL
Declares N22.51 billion Loss in 2016 Audited Result,(SP:N0.50k)
5. JAPAULOIL Declares N3.41 billion Loss in Q3'16 Result,(SP:N0.50k)