新闻
Rex: FRAM To Get US$13.8 Million In Termination Fee For 2 Rigs.
30 Jun 2015 17:48Rex International Holding Limited notes that Fram Exploration ASA, in which Rex International Holding has a 30.29 per cent interest, has entered into an agreement to terminate its existing five-year lease for two rigs with Loyz Energy Limited, for a termination fee of US$13.8 million to be paid to FRAM. The consideration will be satisfied by a US$2.5 million payment in cash and US$11.3 million in 136.5 million new shares in the Investor, with a commitment to a nine-month lock-up period for these new shares. The issuance of 136.5 million new shares in the Investor has been approved at the company's extraordinary general meeting held on 29 June 2015...
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Source: ShareInvestor Express
