Sequa Petroleum is pleased to announce that it has signed a funding agreement with Sapinda Invest Sarl to provide up to USD 62.5 million as a convertible loan to address current funding needs and provide a portion of the equity required for the announced acquisitions. The loan will bear an interest rate of 8%, and will be convertible into Sequa shares at a price of Euro 2.55 per share no later than 2 years from signing, or otherwise when all funds have been drawn, whichever is earlier. This convertible loan satisfies the obligation that Sapinda had committed to provide USD 62.5m of funds by the end of 2015, as announced on 21st April, 2015. These funds provide certainty regarding the funding for the company through 2016, and a substantial source of equity to complete the announced transactions.
Shareholders are hereby invited to attend the General Meeting of Shareholders (GM) of Sequa Petroleum N.V. (the Company), to be held at the 24th floor, Rembrandt Tower, Amstelplein 1 (1096 HA) in Amsterdam, the Netherlands on Thursday 7 January 2016 at 14.00 hours p.m. CET.