JKX Oil & Gas PLC Update on sale of non-core assets (4947P)
February 18 2021 - 01:00AM
UK Regulatory
TIDMJKX
RNS Number : 4947P
JKX Oil & Gas PLC
18 February 2021
18th February 2021
JKX Oil & Gas plc
("JKX", the "Company" or the "Group")
Update on sale of non-core assets
On 9(th) March 2020 the company announced that it had agreed
terms for the disposal of the entire share capital of JKX's wholly
owned Hungarian subsidiary, Folyopart Energia KFT (Riverside Energy
KFT ("Riverside") ("the Transaction").
Following pandemic related delays JKX has now received
notification that the relevant Hungarian authorities have refused
the necessary consent to the transaction pursuant to legislation
introduced as a result of the current Covid-19 pandemic.
Consequently, the transaction will not proceed.
Mr. Victor Gladun, Group CEO, said "Despite this development JKX
will continue to explore other options in relation to Riverside in
line with our previously announced strategy of focusing our
portfolio on our most prospective opportunities."
Elements of this press release contain or may contain inside
information about JKX Oil & Gas plc within the meaning of
Article 7(1) of the Market Abuse Regulation (596/2014/EU) as it
forms part of domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("UK MAR") and is in accordance with the
company's obligations under Article 17 of UK MAR.
ENDS
JKX Oil & Gas plc +44 (0) 20 7323 4464
Dmytro Pidubbnyy, CFO
EM Communications +44 (0) 20 7002 7858
Jeroen van de Crommenacker
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