Phoenix Global Resources PLC Interoil Demerger (0338X)
November 21 2017 - 1:00AM
UK Regulatory
TIDMPGR
RNS Number : 0338X
Phoenix Global Resources PLC
21 November 2017
Phoenix Global Resources plc
("Phoenix" or the "Company")
Interoil Demerger
On 7 November 2017 the Company announced how it proposed to
implement the Interoil Demerger and the associated reduction of
capital. In view of the duration between the Interoil Demerger
Record Time (6.00 p.m. on 8 August 2017) and the Interoil Demerger
ex dividend date (15 December 2017), in order to simplify
procedures and avoid the potential complexity of reconciling market
claims since 8 August 2017, it is intended that the Exchangeable
GuernseyCo Shares to be issued in satisfaction of the Interoil
Demerger Distribution will be issued directly to Shareholders on
the Phoenix Register at 7.00 a.m. on 15 December 2017. The
directors therefore intend to include Shareholders who have
acquired Phoenix Shares arising from the exercise of warrants over
Phoenix Shares between the Interoil Demerger Record Time and the
Interoil ex dividend date pursuant to the authorities sought in the
Resolutions to be put to Shareholders at the General Meeting to be
held on 23 November 2017 if such Resolutions are passed.
Excluded from the issue of the Exchangeable GuernseyCo Shares
will be US Phoenix Shareholders and Other US Phoenix Shareholders.
As a result of the Interoil Demerger Record Time being 8 August
2017, Mercuria Energy Asset Management B.V. and its affiliated
company Upstream Capital Partners VI Limited will not participate
in the Interoil Demerger in respect of Phoenix Shares which they
have acquired after the Interoil Demerger Record Time.
All references to times are to London times unless otherwise
stated.
For further information, please contact:
Phoenix Global Anuj Sharma, T: +54 11 5258
Resources plc CEO 7500
Philip Wolfe, T: +44 20 7839
CFO 4974
Stockdale Securities Antonio Bossi T: +44 20 7601
Ed Thomas 6100
Panmure Gordon Adam James T: +44 20 7886
Atholl Tweedie 2500
Camarco Billy Clegg T: +44 20 3757
Gordon Poole 4980
James Crothers
Capitalised terms used but not defined in this announcement have
the same meaning as in the Circular published by the Company on 7
November 2017 and available on its website at
www.phoenixglobalresources.com
About Phoenix
Phoenix Global Resources is a London Stock Exchange (AIM: PGR)
and Buenos Aires Stock Exchange (BCBA: PGR) listed independent
Argentina focused oil and gas exploration and production company.
The Company has over 6.3 million licensed working interest acres in
Argentina (of which over 5 million are operated), 61.7 million boe
of working interest 2P reserves and average production of
approximately 11,300 working interest boepd in 2016. Phoenix has
significant exposure to the unconventional opportunity in Argentina
through its 480,000 working interest acres with Vaca Muerta
potential.
The Company's website is www.phoenixglobalresources.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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