SeaEnergy PLC Statement re. Suspension (3901W)
26 Avril 2016 - 2:12PM
UK Regulatory
TIDMSEA
RNS Number : 3901W
SeaEnergy PLC
26 April 2016
SeaEnergy PLC
("SeaEnergy" or the "Company")
Statement re. Suspension
Further to the announcement on 4 March 2016, the Company
confirms that it has sufficient funds to remain trading until the
second half of May. Since that announcement, SeaEnergy has been in
detailed discussions with a number of potential purchasers for the
Return to Scene business ("R2S"), several of which are still
ongoing (the "Potential Disposal").
The Potential Disposal would be classified as a fundamental
change of business under the AIM Rules for Companies and therefore
require the prior approval of shareholders at a specially convened
general meeting. The Directors are of the opinion that it is now
unlikely that a sale and purchase agreement can be agreed and
executed in sufficient time to allow the process of shareholder
approval to occur while the Company remains solvent. In addition,
the suspension in trading of the shares of Lansdowne Oil & Gas
plc, a company in which SeaEnergy holds an 18.67% interest, on 13
April 2016 means that it is unlikely that the Company could
currently raise funds through the disposal of its interest. The
Directors are therefore taking advice from insolvency
practitioners.
As a result, the Company has requested a suspension in trading
of the Company's shares pending clarification of the financial
position.
Further announcements will be made as appropriate.
ENDS
John Aldersey-Williams
Chief Executive Officer
Tel: +44 1224 748480
Claire Fleming
Corporate Communications & Research Manager
Tel: +44 7880 358920
Tim Feather/Liam Gribben
Nominated Adviser and Broker
WH Ireland Limited
Tel: 0113 394 6600
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCMMGZDZVGGVZM
(END) Dow Jones Newswires
April 26, 2016 08:12 ET (12:12 GMT)
Seascape Energy Asia (LSE:SEA)
Graphique Historique de l'Action
De Août 2024 à Sept 2024
Seascape Energy Asia (LSE:SEA)
Graphique Historique de l'Action
De Sept 2023 à Sept 2024