30th Jun 2026 10:50
(Alliance News) - Rockhopper Exploration PLC on Tuesday said the sale of its Italian assets remains conditional on regulatory approval, as the extended deadline for the transaction has now passed.
The Salisbury, England-based oil and gas miner with key interests in the North Falkland Basin said Italian regulatory approval has yet to be received for the sale of its wholly owned subsidiary, Rockhopper Civita Ltd, to Zodiac Energy Ltd.
Rockhopper announced the disposal in October 2024 as part of its planned exit from Italy. Rockhopper Civita holds all of the company's Italian assets and liabilities, excluding the Ombrina Mare arbitration.
The transaction is subject to approvals from both the Falkland Islands government and the Italian regulator. Rockhopper said it has received approval from the Falkland Islands, but Italian consent remains outstanding.
The extended long-stop date of June 30 has now been reached, giving either Rockhopper or Zodiac the option to withdraw from the transaction.
However, Rockhopper said the share purchase agreement remains "in full force and effect" and that both parties continue to work to satisfy the Italian regulator's requirements.
Shares in Rockhopper were unchanged at 69.80 pence in London on Tuesday morning.
By Eva Castanedo, Alliance News reporter
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