4th Jul 2008 08:47
4 July 2008
Forum Energy Plc ("Forum" or the "Company")
Notifiable interest
The Board of Forum announces that it received notification on 3 July 2008 that on 1 July 2008, following the acquisition by Philex Petroleum Corporation ("PPC") of 4,004,000 ordinary shares of 10p each in the Company ("Ordinary Shares"), PPC and FEC Resources Inc, who are presumed to be acting in concert for the purpose of the Takeover Code, together have an interest in 12,554,200 Ordinary Shares, representing 43.725% of the issued share capital of the Company.
As disclosed in an announcement released by PPC at 7.17 a.m. on 2 July 2008 with the title "Announcement of mandatory offer":
"PPC is a company organized under Philippine law and is owned 51% by Philex Mining Corporation ('PMC'). Amongst other assets PMC currently owns 51% of FEC Resources Inc. ('FEC'), a company listed in NASD OTC Bulletin Board (FECOF) and the Frankfurt and Munich Stock Exchange (FEB). PPC and FEC are therefore presumed to be acting in concert for the purpose of the Code. Among the assets of FEC is a shareholding in FEP of approximately 29.78%."
For further information please contact:
Alan Henderson Tel: +44 (0)1932 445 344
Non-Executive Chairman and acting Chief Executive Officer, Forum Energy Plc
Andrew Mullins Tel: +44 (0)1932 445 344
Company Secretary, Forum Energy Plc
Nick Naylor / Matthew Hall / Jamie Boyd Tel: +44 (0)20 7763 2200
Noble & Company Ltd, Nominated Adviser & Broker
Or visit the Company's website:
www.forumenergyplc.com
Related Shares:
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