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CAYMAN ISLANDS - Fenikso Limited (AQSE:FNK), a company based in the Cayman Islands, has renegotiated the terms of its outstanding loan with Savanah Energy Investments Limited. The original loan balance of $11,525,424 has been reduced to $5,762,712 in a settlement agreement. Fenikso has committed to an immediate payment of $2,500,000 with the remainder due by December 31, 2025.
Following the payment to Savanah Energy, Fenikso anticipates maintaining a balance sheet with over $1,500,000 in cash and investments. This move comes as part of the company’s financial strategy to manage its debt obligations and strengthen its financial position.
The announcement, which was made public today, contains information that is considered to be significant under the Market Abuse Regulations, as it could potentially influence the company’s stock price. The disclosure of this information is in line with regulatory requirements to ensure transparency in financial dealings.
Investors and market watchers may see this renegotiation as a positive step for Fenikso, potentially leading to an improved liquidity position and a stronger balance sheet. The settlement could also reflect favorably on the company’s credit management and negotiation capabilities.
The details of this renegotiation are based on a press release statement from Fenikso Limited. As the company looks forward to the end of the year, the focus will likely remain on meeting the new payment schedule and leveraging its post-repayment financial resources.
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