Oracle Power PLC Update re Ceremonial Signing of MOU (9624X)
03 May 2019 - 4:00PM
UK Regulatory
TIDMORCP
RNS Number : 9624X
Oracle Power PLC
03 May 2019
3 May 2019
Oracle Power PLC
("Oracle" or "the Company")
Update re Ceremonial Signing of MOU
Oracle Power PLC (AIM:ORCP), the UK energy developer of a
combined lignite coal mine and mine mouth power plant located in
the south-eastern Sindh Province of Pakistan (Thar Block VI),
advises that it received on 1 May 2019 the Memorandum of
Understanding ("MOU"), ceremonially signed on 27 April 2019 by
representatives of Beijing Jingneng Power Company Limited ("Beijing
Jingneng"), PowerChina International Group Limited ("PowerChina")
and Oracle, as announced on 29 April 2019.
It was stated on 29 April 2019 that there were no changes to the
MOU announced on 27 March 2019 ("March MOU"). The board of Oracle
("Board") has noted that in the document received certain sections
from the March MOU have been removed. Following requests for
clarification, PowerChina has indicated in a letter of 2 May 2019
that the March MOU remains valid and the document received on 1 May
2019 is only ceremonial. Oracle is seeking similar confirmation
from Beijing Jingneng. As such, the Board considers that the March
MOU remains valid.
Further updates will be provided to shareholders in due
course.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
For further information please contact:
Oracle Power PLC +44 (0) 203 580
Naheed Memon 4316
Strand Hanson Limited (Nominated Adviser) +44 (0) 20 7409
Rory Murphy, James Harris, Jack Botros 3494
Brandon Hill Capital Limited +44 (0)203 463
Oliver Stansfield 5000
Peterhouse Corporate Finance +44 (0) 207 220
Charles Goodfellow 9791
Blytheweigh +44 (0) 207 138
Tim Blythe, Camilla Horsfall, Megan Ray 3204
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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