Xplorer PLC Statement re. Suspension (1661A)
December 18 2014 - 4:49AM
UK Regulatory
TIDMXPL
RNS Number : 1661A
Xplorer PLC
18 December 2014
18 December 2014
Xplorer plc
("Xplorer" or the "Company")
Suspension of Trading in the Company's Shares
The board of directors (the "Board") of Xplorer plc (LSE: XPL),
the LSE Main Market listed investing company, can confirm that it
is in discussions regarding a proposed acquisition of oil and gas
assets in Africa (the "Proposed Acquisition"). The Proposed
Acquisition would be conditional, inter alia, on the Company
raising additional equity finance for which there is no certainty
that the Company will be able to conclude successfully.
The Proposed Acquisition, if exchanged and completed, would
constitute a reverse takeover under the Listing Rules. As the
Company is currently unable to provide a full disclosure under Rule
5.6.15 of the Listing Rules, the Company has requested a suspension
of trading in its shares.
Whilst these discussions are at an advanced stage no agreement
has yet been reached and, accordingly, there can be no certainty
that the Proposed Acquisition will proceed or be concluded
successfully.
The Board will make further announcements as necessary in due
course.
Enquiries:
Xplorer Plc www.xplorerplc.co.uk
John Roddison, Director +44 207 495 7429
Nicholas Nelson, Corporate Comms. +44 7921 522 920
Financial Adviser & Broker :
Allenby Capital
Nick Harriss, Director, Corporate
Finance +44 20 3328 5656
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This information is provided by RNS
The company news service from the London Stock Exchange
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