HEGY Helius Eng

TIDMHEGY

RNS Number : 7196J

Helius Energy Plc

09 April 2015

Helius Energy plc

("Helius" or the "Company")

Completion of disposal of interest in Helius CoRDe Limited

Further to the announcement by the Company on 20 March 2015 regarding, amongst other things, the sale of its shareholding in Helius CoRDe Limited to Leo Energy Limited (the "Sale"), Helius announces that the Sale completed on 8 April 2015. The acquisition proceeds of GBP12.3 million have been paid by Leo Energy Limited.

The Board is exploring the best way to return available cash to shareholders as soon as reasonably practicable and will endeavour to return as much cash to shareholders as possible.

As was announced on 20 March 2015, the Board is currently aware of the following factors which need to be taken into account when determining the amount of cash to be returned to Shareholders:

   --              retention amount held in escrow under the terms of the SPA: GBP1.23m; 
   --              professional fees relating to the Disposal: c.GBP0.3m; 

-- existing creditors of the Company and expected operational costs to the end of the retention period: GBP0.7m; and

   --              contingency: GBP0.1m. 

A further announcement on this will follow in due course.

For more information please contact:

Helius Energy plc

John Seed (Chairman)

William J. Ingram Hill (Chief Operating Officer)

Alan Lyons (Chief Financial Officer)

Numis Securities Ltd Tel: +44 (0) 20 7260 1000

Jamie Lillywhite (as Nominated Adviser)

James Black (as Corporate Broker)

Citigate Drewe Rogerson Tel: +44 (0) 20 7638 9571

Chris Gardner

Malcolm Robertson

This information is provided by RNS

The company news service from the London Stock Exchange

END

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