10th Jul 2014 08:56
LONDON (Alliance News) - Acorn Minerals PLC said Thursday it has opted not to go forward with its planned acquisition of Australian oil and gas exploration and extraction company Gulf Energy Ltd, as not all conditions of its conditional agreement were met.
It has ended discussions with Gulf Energy, and as a result its shares have resumed trading in London.
Acorn Minerals said it continues to explore acquisition opportunities in line with its business plan and strategy.
Shares in Acorn Minerals are not yet traded Thursday. It last traded at 16.00 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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