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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DISTRMPTMTTBBBB

(END) Dow Jones Newswires

February 18, 2021 02:00 ET (07:00 GMT)

Jkx Oil & Gas (LSE:JKX)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Jkx Oil & Gas Charts.
Jkx Oil & Gas (LSE:JKX)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Jkx Oil & Gas Charts.