Oman Resources Secures Convertible Debt For $7.2m from Niche Group: Niche Group Further Increases its Investment in Oman Resources - Deal Analysis From GlobalData
Oman Resources Limited (Oman Resources) secured convertible debt for gross proceeds of £3.5m ($7.2m). The debt was issued by Niche Group Plc (Niche Group). Under the terms of the agreement, the debt is convertible either at Niche Group’s option or automatically on the occurrence of certain specified events into a further 3.5% of Oman Resources’ share capital rendering Niche Group a total share of 35.7% in Oman Resources. Oman Resources intended to use the proceeds to meet the payment obligation with respect to its farm in agreement on Hatay Block 4394, located in Turkey.
Rationale behind Oman Resources securing convertible debt,
Strategic benefits for the companies involved,
Geography covered -Europe
Reasons to buy
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