Nostrum Oil & Gas PLC Termination of Mayfair Relationship Agreement (0495O)
February 04 2021 - 7:35AM
UK Regulatory
TIDMNOG
RNS Number : 0495O
Nostrum Oil & Gas PLC
04 February 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT
JURISDICTION
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
London, 4 February 2021
Termination of Mayfair Relationship Agreement
Nostrum Oil & Gas PLC (LSE: NOG) ("Nostrum", or "the
Company"), an independent oil and gas company engaging in the
production, development and exploration of oil and gas in the
pre-Caspian Basin, today announces that the Company and Mayfair
Investments BV ("Mayfair"), a shareholder in the Company, have by
mutual agreement terminated the relationship agreement between them
dated 19 May 2014 (as adhered to by Mayfair on 30 January 2015)
(the "Relationship Agreement").
In the Relationship Agreement Nostrum had granted Mayfair the
right to nominate a director to the Company's Board of Directors
and Mayfair had made various undertakings to the Company designed
to ensure that the Company is managed independently of Mayfair.
Nostrum and Mayfair mutually agreed to terminate the Relationship
Agreement given that Mayfair's shareholding in the Company reduced
significantly in May 2020 and in January 2021 Mayfair decided to
cease to nominate a director to the Company's Board of
Directors.
LEI: 2138007VWEP4MM3J8B29
Further information
For further information please visit www.nog.co.uk
Further enquiries
Nostrum Oil & Gas PLC
Martin Cocker - Chief Financial Officer
ir@nog.co.uk
Instinctif Partners - UK
Mark Garraway
Sarah Hourahane
Galyna Kulachek
+ 44 (0) 207 457 2020
nostrum@instinctif.com
Notifying person
Martin Cocker - Chief Financial Officer
About Nostrum Oil & Gas
Nostrum Oil & Gas PLC is an independent oil and gas company
currently engaging in the production, development and exploration
of oil and gas in the pre-Caspian Basin. Its shares are listed on
the London Stock Exchange (ticker symbol: NOG). The principal
producing asset of Nostrum Oil & Gas PLC is the Chinarevskoye
field, in which it holds a 100% interest and is the operator
through its wholly-owned subsidiary Zhaikmunai LLP. In addition,
Nostrum Oil & Gas holds a 100% interest in and is the operator
of the Rostoshinskoye oil and gas field through the same
subsidiary. Located in the pre-Caspian basin to the north-west of
Uralsk, this exploration and development field is situated
approximately 100 kilometres from the Chinarevskoye field.
Forward-Looking Statements
Some of the statements in this document are forward-looking.
Forward-looking statements include statements regarding the intent,
belief and current expectations of the Company or its officers with
respect to various matters. When used in this document, the words
"expects", "believes", "anticipates", "plans", "may", "will",
"should" and similar expressions, and the negatives thereof, are
intended to identify forward-looking statements. Such statements
are not promises nor guarantees and are subject to risks and
uncertainties that could cause actual outcomes to differ materially
from those suggested by any such statements.
No part of this announcement constitutes, or shall be taken to
constitute, an invitation or inducement to invest in the Company or
any other entity, and shareholders of the Company are cautioned not
to place undue reliance on the forward-looking statements. Save as
required by the Listing Rules and applicable law, the Company does
not undertake to update or change any forward-looking statements to
reflect events occurring after the date of this announcement.
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END
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