Curzon Energy PLC Potential Transaction Extension Update (9633V)
13 August 2020 - 12:31AM
UK Regulatory
TIDMCZN
RNS Number : 9633V
Curzon Energy PLC
12 August 2020
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
12 August 2020
Curzon Energy Plc
("Curzon" or the "Company")
Potential Transaction Extension Update
Curzon Energy plc (LON:CZN) the London Stock Exchange listed oil
and gas company, announces a further update regarding a potential
transaction details of which were first announced on 18 March 2020
and more recently updated on 1 July 2020.
The period of exclusivity originally entered into between Sun
Seven Stars Investment Group ("SSSIG") and the Company has been
extended until 1 September 2020 by the payment of GBP75,000 to be
added to the existing one-year loan note carrying an annual
interest rate of 10% per annum and convertible at the price of any
subsequent share issue in the contemplated transaction. SSSIG has
the right to further extend this period through to 1 December 2020
by making additional payments.
While the parties continue to work constructively towards a
potential transaction, there can be no certainty that due diligence
when complete will be compelling, nor to be able to predict the
length of time required to reach definitive agreement or the
likelihood of concluding a successful transaction.
The Company will continue to update the markets on progress as
appropriate.
For further information please
contact:
Curzon Energy Plc +44 (0) 20 7747 9980
Scott Kaintz
www.curzonenergy.com
SP Angel Corporate Finance LLP +44 (0) 20 3470 0470
Optiva Securities Limited +44 (0) 20 3137 1902
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END
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