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Update on Completion of Rockhopper Acquisition

Source: 2/20/2020, Location: Africa

United Oil & Gas Plc (UOG) is pleased to announce the satisfaction of the regulatory conditions attached to its proposed acquisition (Acquisition) of Rockhopper Egypt Pty Ltd., which holds a 22% interest in the producing Abu Sennan field, from Rockhopper Exploration plc. This follows receipt of the written consents from EGPC and the Minister of Petroleum and Mineral Resources of Egypt for the Rockhopper Acquisition on 20 February 2020.

In accordance with the terms of the Rockhopper Acquisition Agreement, United now expects Completion and Admission to occur on 28 February 2020. A further announcement will be provided to the market at that time.

Accordingly, application has been made for the Enlarged Ordinary Share Capital comprising 619,153,969 Ordinary Shares to be admitted to trading on AIM on 28 February 2020 ("Admission"). On Admission, the Consideration Shares, the Placing Shares and the Subscription Shares will rank pari passu in all respects with Existing Ordinary Shares.

Given the passage of time since the publication of its Admission Document dated 6 December 2019 and in line with regulatory requirements, the Appendix 1 below summarises the additional information which has been subsequently notified to the market by the Company.

For more information about related Opportunities and Key Players visit Egypt Oil and Gas Projects

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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