Lansdowne Oil & Gas (GB:LOGP) has released an update.
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Lansdowne Oil & Gas plc has secured a GBP 95,000 convertible loan to fund working capital and support ongoing negotiations for its Energy Charter Treaty claim against Ireland, as well as preparations for a potential reverse takeover. The loan, provided by company directors and existing shareholders, will convert into new shares upon completion of the reverse takeover, with terms including no interest and a conversion price at a discount. Trading in the company’s shares will remain suspended until the reverse takeover process is complete or the company is readmitted to trading as an investing company.
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