18th Dec 2014 10:49
18 December 2014
Xplorer plc
("Xplorer" or the "Company")
Suspension of Trading in the Company's Shares
The board of directors (the "Board") of Xplorer plc (LSE: XPL), the LSE Main Market listed investing company, can confirm that it is in discussions regarding a proposed acquisition of oil and gas assets in Africa (the "Proposed Acquisition"). The Proposed Acquisition would be conditional, inter alia, on the Company raising additional equity finance for which there is no certainty that the Company will be able to conclude successfully.
The Proposed Acquisition, if exchanged and completed, would constitute a reverse takeover under the Listing Rules. As the Company is currently unable to provide a full disclosure under Rule 5.6.15 of the Listing Rules, the Company has requested a suspension of trading in its shares.
Whilst these discussions are at an advanced stage no agreement has yet been reached and, accordingly, there can be no certainty that the Proposed Acquisition will proceed or be concluded successfully.
The Board will make further announcements as necessary in due course.
Enquiries:
Xplorer Plc John Roddison, Director Nicholas Nelson, Corporate Comms. | www.xplorerplc.co.uk +44 207 495 7429 +44 7921 522 920 |
Financial Adviser & Broker : Allenby Capital Nick Harriss, Director, Corporate Finance |
+44 20 3328 5656
|
Related Shares:
XPL.L