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Angus signs a £3MM loan, avoids a proxy fight
Angus Energy plc signed a twoyear loan facility for £3 million with YA II PN Ltd. and RiverFort Global Capital. It said it will use proceeds to fund future development of the Balcombe field. The zero-interest facility can be drawn down in tranches, with the company paying an 8.5% implementation and commitment on the amount drawn each time. Angus immediately drew £1.5 million. The company has also undergone a management shake-up following a battle in the boardroom, the Financial Times reported. Managing director Paul Vonk is out,......
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