Curzon Energy PLC Temporary Suspension of Trading (9597E)
November 11 2020 - 1:33AM
UK Regulatory
TIDMCZN
RNS Number : 9597E
Curzon Energy PLC
11 November 2020
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
11 November 2020
Curzon Energy Plc
("Curzon" or the "Company")
Temporary Suspension of Trading
Curzon Energy plc (LON:CZN) the London Stock Exchange listed oil
and gas company, announces it has requested a temporary suspension
of listing in its ordinary shares with effect from 07:30 a.m.
today, 11 November 2020.
Details of a potential transaction with Sun Seven Stars
Investment Group ("SSSIG") were first announced on 18 March 2020,
and updates provided on 1 July 2020, 12 August 2020 and on 2
November 2020. Although the period of exclusivity originally
granted to SSSIG has expired, the Company remains in discussions
with SSSIG regarding a potential extension of the exclusivity
period with a view to a potential transaction, and we await
requested due diligence materials in order to be able to agree
terms with SSSIG.
While the parties continue to work constructively towards a
potential transaction, there can be no certainty around the length
of time required to reach definitive agreement or the likelihood of
concluding a potential transaction, that would remain subject to
due diligence, agreement on terms, and completion of the
acquisition and re-listing of the enlarged group on the Official
List.
A potential transaction, if completed, would constitute a
reverse takeover under the Listing Rules. As the Company is
currently unable to provide full disclosure on the potential
transaction, it has requested a temporary suspension of listing in
its ordinary shares, pending further progress on agreeing terms on
a potential transaction.
The Company will continue to update the market on progress as
appropriate.
For further information please
contact:
Curzon Energy Plc +44 (0) 20 7747 9980
Scott Kaintz
www.curzonenergy.com
SP Angel Corporate Finance LLP +44 (0) 20 3470 0470
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END
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