22nd Feb 2016 12:11
LONDON (Alliance News) - Senterra Energy PLC on Monday said it's making progress on identifying and reviewing acquisition targets within the oil & gas sector, though some opportunities have arisen outside that area.
"Investors should also be aware that due to its status as an acquisition vehicle that the company has been approached by a number of parties with opportunities outside that of the energy sector and that these parties have expressed interest in working with Senterra to facilitate a public listing," the company said.
"The board believes that there are some potentially attractive businesses and technologies amongst these proposals and it will seek to apply similar principles and disciplines of corporate governance to the assessment of these opportunities as it is doing so for its discussions for any potential acquisitions in the energy sector," the company added.
An acquisition would be treated as a reverse takeover under stock exchange rules, Senterra said.
Shares in Senterra were up 7.0% at 4.41 pence on Monday.
By Samuel Agini; [email protected]; @samuelagini
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