Bowleven plc Confirmation of Special Dividend Payment (4298P)
February 08 2019 - 1:00AM
UK Regulatory
TIDMBLVN
RNS Number : 4298P
Bowleven plc
08 February 2019
8 February 2019
Bowleven plc
("Bowleven" or the "Company")
Confirmation of Special Dividend Payment
Bowleven, the Africa focussed oil and gas company traded on AIM,
is pleased to confirm the payment today of the special dividend of
approximately GBP50 million, or 15 pence per ordinary share.
As previously announced, the upcoming Etinde work programme and
budget has now been agreed amongst the upstream joint venture
partners for 2019. The detailed effort will contribute towards the
interpretation of the data and the development options for the
block with a view to its commercialisation.
The dividend has today been paid to those shareholders on the
register on 18th January 2019.
Eli Chahin, Bowleven CEO, commented:
"I'm delighted the Company is in a position to return this money
to shareholders whilst continuing to offer significant future
upside for investors as we work to reach FID on Etinde.
The management team's priority has always been maximising value
for shareholders. The payment of this Special Dividend represents a
major return of capital to investors, but also a statement of our
commitment to ensuring the interests of the Company's owners are
always at the forefront of the Board's considerations."
ENQUIRIES
For further information, please contact:
Bowleven plc
Eli Chahin, Chief Executive 00 44 131 524 5678
Celicourt Communications Ltd
Mark Antelme 00 44 207 520 9261
Henry Lerwill
Stockdale Securities Ltd (NOMAD and
Broker)
Robert Finlay 00 44 207 601 6100
Antonio Bossi
Notes to Editors:
Bowleven is an African focused oil and gas exploration group,
based in London and traded on AIM. Bowleven's vision is to maximise
value for shareholders by realising the greatest value of the
Group's Etinde asset, a relentless focus on capital discipline and
ensuring that cash is wisely preserved to cover G&A costs and
Etinde project development work. Bowleven holds equity interest in
the Etinde blocks in Cameroon located offshore in shallow water
(operated by NewAge).
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contact rns@lseg.com or visit www.rns.com.
END
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