Scandoil  

Lekoil approve provision of a US$1.5 million loan to Lekan Akinyanm


Published Dec 12, 2014
[an error occurred while processing this directive]

Edit page New page Hide edit links

Lekoil

Lekoil Limited says that the independent board of directors of the Company, being all of the Directors save for Lekan Akinyanmi, the Company's Chief Executive Officer (the "Independent Directors") have approved the provision of a US$1.5 million loan to Lekan Akinyanmi (the "Loan"). The Loan has a three year term and bears interest at a rate of four per cent. per annum. Other than a bonus, from May 2013 until November 2014, Lekan Akinyanmi received no remuneration in cash from Lekoil.

The Loan constitutes a related party transaction under the AIM Rules. The Independent Directors consider, having consulted with Strand Hanson Limited, the Company's nominated adviser, that the terms of the transaction are fair and reasonable insofar as Lekoil's shareholders are concerned.

Tags: Lekoil




Advertisment:

Comments on this page are closed.

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml