Scirocco Energy plc said it had agreed an amendment to repaying the outstanding $545,000 investment facility with USA-based investor Prolific Basins LLC. RUVUMA CASH The company defaulted on the loan after shareholders defeated two resolutions at the general meeting in early August. Scirocco today said that it would use available cash resources, strengthened by the […]
Tag: Prolific Basins LLC
Scirocco defaults on Prolific Basins loan
Scirocco Energy plc said it had defaulted the terms of its Prolific Basins LLC loan facility following defeat of two resolutions at the company’s general meeting. OUTSTANDING BALANCE Of a total of six, resolutions four and five failed to gain the required majority, with resolution five key to maintaining the terms of the facility. Scirocco […]