Oracle Power PLC Update re Ceremonial Signing of MOU (1844Z)
16 May 2019 - 4:01PM
UK Regulatory
TIDMORCP
RNS Number : 1844Z
Oracle Power PLC
16 May 2019
16 May 2019
Oracle Power PLC
("Oracle" or "the Company")
Update re Ceremonial Signing of MOU
Further to the announcement of 3 May 2019, 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
confirmation on 14 May 2019 from Beijing Jingneng Power Company
Limited ("Beijing Jingneng") that the Memorandum of Understanding
("MOU"), ceremonially signed on 27 April 2019 by representatives of
Beijing Jingneng and PowerChina International Group Limited
("PowerChina") and Oracle, as announced on 29 April 2019, is only
ceremonial and does not replace the Memorandum of Understanding
announced on 27 March 2019 ("March MOU"). This is in addition to
the clarification received from PowerChina on 2 May 2019.
As such, the Company and its partners consider that the March
MOU remains valid.
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
Tim Blythe, Camilla Horsfall, Megan +44 (0) 207 138
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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