Lekoil : Suspension of Trading on AIM

RNS Number : 5633Z

Lekoil Limited

13 January 2020

13 January 2020

Lekoil Limited

("LEKOIL" or the "Company")

Suspension of Trading on AIM

Lekoil's advisers were approached yesterday by representa ves of the Qatari Investment Authority (the "QIA") questioning the validity of the loan agreement announced on 2 January 2020 (the "Facility Agreement").

Lekoil is urgently seeking to establish, alongside its legal counsel and Nominated Adviser, the full facts of this ma er, and pending this clarifica on, the Company has requested that its ordinary shares be suspended from trading on AIM with immediate effect, and this took place at 7.37 a.m. today.

Lekoil confirms that its financial exposure associated with the Facility Agreement currently stands at approximately US$600,000, being the amounts paid in good faith as an ini al arrangement fee to Seawave Invest Limited, in its capacity as introducer to those purpor ng to be the QIA and lead adviser to the Company in rela on to the Facility Agreement, and associated legal fees. There have been no monies paid to the presumed counterparty.

Further updates will be made as and when appropriate.

For further information, please visit www.lekoil.comor contact:

LEKOIL Limited
Ore Bajomo, Investor Relations	+44	20 7457 2020
Strand Hanson Limited (Nominated Adviser)
James Spinney / Ritchie Balmer	+44	20 7409 3494
Mirabaud Securities Limited (Joint Broker)
Peter Krens / Edward Haig-Thomas	[phone] / [phone]
Numis Securities Limited (Joint Broker)	[phone]
John Prior / Emily Morris
Instinctif (Financial PR)	[phone]
Mark Garraway / Dinara Shikhametova / Sarah Hourahane	[e-mail]

The informa on contained within this announcement is deemed by the Company to cons tute inside informa on s pulated under the Market A buse Regula on (EU) No. 596/2014. Upon the publica on of this announcement via the Regulatory Informa on Service, this inside information is now considered to be in the public domain.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] visit www.rns.com.

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