TIDMORCP

RNS Number : 1844Z

Oracle Power PLC

16 May 2019

16 May 2019

Oracle Power PLC

("Oracle" or "the Company")

Update re Ceremonial Signing of MOU

Further to the announcement of 3 May 2019, Oracle Power PLC (AIM:ORCP), the UK energy developer of a combined lignite coal mine and mine mouth power plant located in the south-eastern Sindh Province of Pakistan (Thar Block VI), advises that it received confirmation on 14 May 2019 from Beijing Jingneng Power Company Limited ("Beijing Jingneng") that the Memorandum of Understanding ("MOU"), ceremonially signed on 27 April 2019 by representatives of Beijing Jingneng and PowerChina International Group Limited ("PowerChina") and Oracle, as announced on 29 April 2019, is only ceremonial and does not replace the Memorandum of Understanding announced on 27 March 2019 ("March MOU"). This is in addition to the clarification received from PowerChina on 2 May 2019.

As such, the Company and its partners consider that the March MOU remains valid.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information please contact:

 
 Oracle Power PLC                             +44 (0) 203 580 
  Naheed Memon                                 4316 
 Strand Hanson Limited (Nominated Adviser)    +44 (0) 20 7409 
  Rory Murphy, James Harris, Jack Botros       3494 
 Brandon Hill Capital Limited                 +44 (0)203 463 
  Oliver Stansfield                            5000 
 Peterhouse Corporate Finance                 +44 (0) 207 220 
  Charles Goodfellow                           9791 
 Blytheweigh 
  Tim Blythe, Camilla Horsfall, Megan         +44 (0) 207 138 
  Ray                                          3204

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.

END

UPDUVVRRKBAVAUR

(END) Dow Jones Newswires

May 16, 2019 02:01 ET (06:01 GMT)

Oracle Power (LSE:ORCP)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Oracle Power Charts.
Oracle Power (LSE:ORCP)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Oracle Power Charts.