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AQSE Growth Market Rule 4.14

The following information is disclosed in accordance with AQSE Growth Market Rule 4.14.

Last updated on 3 January 2023

Business Description

Fenikso is the restructured holding company that used to be Lekoil Limited. Fenikso is based in the Cayman Islands and holds one main asset which is a US$51.9 million loan made to Lekoil & Gas Investments (“LOGI”) a wholly owned subsidiary of Lekoil Nigeria. The repayment of this loan will take place from the oil sales by LOGI. Fenikso is entitled to 8.65% of the revenue generated from oil sales by LOGI. The company will update the market when it has received the first payment under the loan agreement with LOGI. The proceeds from the loan agreement will initially go towards the repayment of Fenikso liabilities. Once all the liabilities have been cleared the board will discuss with shareholders the various options available to create shareholder value from the funds it will receive in the future.

Company Information

Fenikso is the restructured holding company that used to be Lekoil Limited. Fenikso is based in the Cayman Islands and holds one main asset which is a US$51.9 million loan made to Lekoil & Gas Investments (“LOGI”) a wholly owned subsidiary of Lekoil Nigeria. The repayment of this loan will take place from the oil sales by LOGI. Fenikso is entitled to 8.65% of the revenue generated from oil sales by LOGI. The Company will update the market when it has received the first payment under the loan agreement with LOGI. The proceeds from the loan agreement will initially go towards the repayment of Fenikso liabilities. Once all the liabilities have been cleared the Board will discuss with shareholders the various options available to create shareholder value from the funds it will receive in the future.

Since the Company is not incorporated in the UK and the rights of the shareholders may be different from the rights of shareholders in a UK incorporated company.

The Company’s shares ceased trading on the AIM market on 18 May 2022 and are currently traded on the AQSE Growth Market. The Company’s shares are not traded on any other exchange or trading platform and the AQSE shares are freely transferable.

Directors

Please click here for details of the Company’s Board of Directors

Responsibilities of the Board

The Audit Committee

The Audit Committee comprises of Tom Richardson and Marco D’Attanasio. The Audit Committee shall meet not less than three times a year. The Audit Committee receives and reviews reports from management and from the Company’s auditors relating to the interim and annual accounts and to the internal control procedures in use throughout the Group. It is responsible for ensuring that the financial performance of the Group is properly reported with particular regard to legal requirements, accounting standards and the AQUIS Rules for Companies. This process includes reviews of annual and interim accounts; results announcements; risk and internal control systems; procedures; and accounting policies. The ultimate responsibility for reviewing and approving the annual report and accounts and the half-yearly reports remains with the Board.

The Remuneration Committee

The Remuneration Committee comprises of Tom Richardson and Marco D’Attanasio. The Remuneration Committee shall meet not less than twice a year. It is responsible for determining and reviewing the terms and conditions of service (including remuneration) and termination of employment of Executive Directors and senior employees and the grant of options implemented from time to time.

The Directors comply with AQSE Growth Market Rule 4.14 relating to Directors’ and applicable employees’ dealings in the Company’s securities. Accordingly, the Company has adopted the Share Dealing Code for Directors and applicable employees and the Company will take all reasonable steps to ensure compliance by its Directors and applicable employees with the provisions of the AQSE Rules relating to dealings in securities.

Articles of Association

Please click here for details of the Company’s Articles of Association

Admission Document

Please click here for a copy of the Company’s Admission Document

Financial Reports

Click here for the latest annual report and accounts
Click here for the latest half-yearly report and accounts

Exchange/Trading Platform

Fenikso Limited shares are admitted to trading on the AQSE Growth Market and it is not listed on any other exchanges or trading platforms. The Company was admitted to trading on the AQSE Growth Market on 18 May 2022 under the ticker LEK. The company changed its name following the EGM on the 22 December 2022 and is now trading under the name Fenikso Limited (Ticker: FNK). Between 17 May 2013 and 18 May 2022, Fenikso Limited’s shares were traded on AIM, operated by the London Stock Exchange under the ticker LEK.

Corporate Governance

Please click here for detail of our corporate governance

Shares in Issue

Please click here to see our Shares in Issue

Significant Shareholders

Please click here to see our significant shareholders

Share Restrictions

There are no restrictions on the transfer of Fenikso shares

Click here for Fenikso Limited’s page on the AQSE website

Directors, Secretary and Advisers

Directors

Thomas Richardson (Chairman)
Marco D’Attanasio (Non-Executive Director)
Dipo Sofola (Non-Executive Director)

Registered office

Intertrust Corporate Services (Cayman) Limited
190 Elgin Avenue
George Town
Grand Cayman KY1-9008
Cayman Islands

Principal place of business and business address of the Directors

Intertrust Corporate Services (Cayman) Limited
190 Elgin Avenue
George Town
Grand Cayman KY1-9008
Cayman Islands

Advisers

Corporate Adviser (AQSE)

First Sentinal Corporate Finance Limited
72 Charlotte Street
London W1T 4QQ
United Kingdom
www.first-sentinel.com

Broker

Tennyson Securities
65 Petty France
London SW1H 9EU
United Kingdom
www.tennysonsecurities.co.uk

Solicitors to the Company as to English law

Rosenblatt
165 Fleet Street
London EC4A 2DY
United Kingdom
www.rosenblatt-law.co.uk

Solicitors to the Company as to Nigerian law

Streamsowers & Kohn
16D Akin Olugbade Street
Lagos
Nigeria
www.sskohn.com

Solicitors to the Company as to Cayman law

Walkers
190 Elgin Avenue
George Town
Grand Cayman KY1-9001
Cayman Islands
www.walkersglobal.com

Walkers is a leading international law firm that provides legal, corporate and fiduciary services to global corporations, financial institutions, capital markets participants and investment fund managers, and acts as Solicitors to the Company as to Cayman law.

Auditors to the Company

Bright Graham Murray
Third Floor, 114A Emperor’s Gate
Cromwell Rd
London SW7 4AG
United Kingdom
www.bgm.co.uk

Registrars

Computershare Investor Services (Cayman Islands) Ltd
The R & H Trust Co Ltd
Winward 1
Regatta Office Park
West Bay Road
Grand Cayman KY1-1103
Cayman Islands
www.computershare.com

Computershare Investor Services (Cayman Islands) Ltd act as the Company’s registrars and share depositary services providers.

Depositary

Computershare Investor Services PLC
The Pavilions
Bridgwater Road
Bristol BS99 6ZZ
United Kingdom
www.computershare.com

Disclaimer

The information available in this part of the website is disclosed solely for the purposes of and in accordance with the disclosure obligations required by rule 4.14 of the AQSE Access Rule for Companies. The Company does not intend documents posted or referred to in this section of the website to be used for any purpose beyond fulfilling its obligations under AQSE Access Rule 4.14