TIDMACPE

RNS Number : 4572R

ACP Energy PLC

26 October 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE SAME HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019 (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

ACP Energy PLC

("ACP" or the "Company")

Update on Proposed Transaction by ACP to acquire oil and gas interests in Ecuador

Withdrawal of Voluntary Cancellation Request of Listing on the Official List

Concert Party Disclosure

Further to its announcement of 28 September 2023, the Company announces the following update concerning the proposed transaction to acquire certain oil and gas interests in Ecuador (the "Proposed Transaction").

The Company continues to progress the Proposed Transaction albeit has experienced certain delays to the anticipated timescale, which means the proposed admission of the Company's enlarged issued share capital to trading on AIM ("Admission") will no longer become effective on 27 October 2023.

Withdrawal of Voluntary Cancellation Request

ACP previously announced that it had applied to the Financial Conduct Authority ("FCA") and London Stock Exchange plc ("LSE") to effect a cancellation of its Ordinary Shares from listing on the standard segment of the FCA's Official List and to trading on the main market for listed securities of the LSE (the "Cancellation") to become effective at 8:00 a.m. on 27 October 2023 . The Company today withdrew its request to the FCA for the Cancellation pursuant to Listing Rule 5.3.7 to allow it additional time to conclude the Proposed Transaction. Whilst the Company has not yet finalised a revised date to complete the Proposed Transaction, it anticipates doing so by no later than 29 December 2023.

The Cancellation will no longer become effective on 27 October 2023 albeit the Company's shares will remain suspended. The Company will make a further announcement in due course.

For further information: www.acpenergyplc.com

ACP Energy

   Paul Welch, Executive Chairman                        +44 207 193 2376 / stacey@acpenergyplc.com

Celicourt Communications

   Mark Antelme / Jimmy Lea                                 +44 207 770 6424 / acpenergy@celicourt.uk

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October 26, 2023 12:10 ET (16:10 GMT)

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