Rex's joint entity raises financing facility; Loyz in S$14m placement

Singapore

REX International Holding's jointly-controlled entity, Lime Petroleum Norway AS (Lime Norway), has secured an increase of its financing facility from 300 million Norwegian kroner (S$52 million) to 700 million kroner to fund its participation in its offshore exploration drilling programme this year.

In addition to this financing facility, the shareholders of Lime Petroleum plc have made capital injections totalling approximately US$35 million in November 2013, January 2014 and March 2015, which were proportionate to their respective shareholding interests in Lime Petroleum plc, of which Lime Norway is a wholly- owned subsidiary.