San Leon Energy PLC Midwestern Becomes Significant Shareholder (4334C)
01 October 2018 - 4:00PM
UK Regulatory
TIDMSLE
RNS Number : 4334C
San Leon Energy PLC
01 October 2018
01 October 2018
San Leon Energy plc
("San Leon", "SLE" or "the Company")
Midwestern Oil & Gas Company Limited ("Midwestern") Becomes
Significant Shareholder
San Leon Energy plc ("San Leon" or "the Company"), the
AIM-listed oil and gas exploration and production company focused
on Africa and Europe, announces that Midwestern has notified the
Company that Midwestern has entered into a binding agreement with
SunTrust Oil Company Nigeria Limited ("SunTrust") to acquire
SunTrust's equity interest in San Leon.
Pursuant to the agreement, Midwestern will acquire a total of
71,487,179 ordinary shares in San Leon (representing 14.29 % of the
issued ordinary shares of the Company and SunTrust's entire
remaining interest in the Company). The shares which are currently
held directly and/or indirectly by SunTrust are being transferred
to Midwestern in exchange for the transfer of interests in certain
assets currently owned by Midwestern. San Leon has been informed by
Midwestern that 47,243,590 ordinary shares in San Leon
(representing 9.44% of issued ordinary shares) have already been
transferred to Midwestern, and that the remaining shares will be
transferred by SunTrust in the coming weeks.
The transaction does not directly involve San Leon or its
assets.
Midwestern is a partner of the Company, in Midwestern Leon
Petroleum Limited ("MLPL").
Charles Odita, Managing Director/CEO of Midwestern,
commented:
"Midwestern is delighted to become a significant shareholder
with San Leon, our partner in MLPL, which has indirect interests in
OML 18. I expect this transaction to further cement the
partnership."
Oisin Fanning, CEO of San Leon, commented:
"I wish to welcome Midwestern as a significant shareholder in
the Company, which I believe will continue to enhance the alignment
of our indirect interests in developing the value in OML 18."
Enquiries:
San Leon Energy plc
Oisin Fanning, Chief Executive (+ 353 1291 6292)
Cantor Fitzgerald Europe (Nominated adviser, financial adviser
and joint broker to the Company)
Nick Tulloch (+44 131 257 4634)
David Porter (+44 207 894 8896)
Whitman Howard Limited (Financial adviser and joint broker to
the Company)
Nick Lovering (+44 20 7659 1234)
Brandon Hill Capital Limited (Joint broker to the Company)
Oliver Stansfield (+44 203 463 5000)
Jonathan Evans (+44 203 463 5016)
Vigo Communications (Financial Public Relations)
Chris McMahon (+44 207 830 9700)
Kate Rogucheva (+44 207 830 9705)
Plunkett Public Relations
Sharon Plunkett (+353 1 280 7873)
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
MSCURORRWSAKOUR
(END) Dow Jones Newswires
October 01, 2018 02:00 ET (06:00 GMT)
San Leon Energy (LSE:SLE)
Historical Stock Chart
From Apr 2024 to May 2024
San Leon Energy (LSE:SLE)
Historical Stock Chart
From May 2023 to May 2024
