AWE Limited (ASX: AWE) provides the following update on various corporate activities to ensure shareholders are fully informed during the company’s Share Purchase Plan (SPP) offer period.
Following the successful Institutional Placement in November 2017, which raised approximately A$38 million, AWE has reduced its corporate debt facility limit from A$300 million to A$125 million. This is more aligned with AWE’s current funding requirements and will result in savings of approximately $1.6 million per year in fees.
The Indonesian Tax Office (ITO) has provided AWE with a tax assessment in relation to the 2012 acquisition of the Anambas PSC and the Northwest Natuna PSC, including the AAL Oil Project, of US$10.4 million. AWE is required to pay the underlying principal amount of US$7.0 million within 30 days.
AWE has extended the final payment date for the sale of the Bulu PSC, including the Lengo Gas Project, following the receipt of progress payments. Following correspondence with the purchaser, AWE has been advised that the final amounts will be paid in late 2017.
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