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LONDON - Fenikso Limited (AQSE:FNK) reported an unaudited profit of $1.58 million for the six months ended June 30, 2025, according to the company’s interim results released Thursday.
The Cayman Islands-based company saw its net assets reach $21.7 million at the end of the reporting period, with cash balances standing at $975,000.
Fenikso’s primary business involves managing the recovery of the LOGI Loan. The company has received $1.65 million in payments under this loan during the first half of 2025, bringing total recoveries to $8.4 million to date.
A significant development during the period was the renegotiation of Fenikso’s debt with Savannah Energy Investments Limited (SEIL). On April 25, the company agreed to settle the outstanding loan balance of $11.53 million for $5.76 million, recognizing a $5.76 million exceptional gain. Fenikso has already paid $2.5 million of this amount, with the remainder due by December 31, 2025.
"The Company is focused on repaying the entire Savanah Energy Investments Limited loan before the end of 2025 such that the Company will have no liabilities whatsoever and will then receive 100% of the cash flows received from LOGI going forward," the company stated in its press release.
During the reporting period, Fenikso also purchased 78,000 of its own shares as treasury stock, bringing its total treasury shares to 415,000.
The information in this article is based on Fenikso’s unaudited interim results press release.
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