ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

SLE.GB San Leon Energy Plc

16.50
0.00 (0.00%)
- - Closed
Realtime Data
Share Name Share Symbol Market Type Share ISIN Share Description
San Leon Energy Plc AQSE:SLE.GB Aquis Stock Exchange Ordinary Share IE00BWVFTP56
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 16.50 0.00 -
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

San Leon Energy PLC Settlement with Avobone (5531O)

08/11/2016 7:00am

UK Regulatory


San Leon Energy (AQSE:SLE.GB)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more San Leon Energy Charts.

TIDMSLE

RNS Number : 5531O

San Leon Energy PLC

08 November 2016

08 November 2016

San Leon Energy plc

Settlement with Avobone

On 7 November 2016, Avobone N.V. and Avobone Poland B.V. ("Avobone") (together, "Avobone") and San Leon Energy Plc ("San Leon") settled a number of ongoing disputes between them and between Avobone and certain of San Leon's subsidiaries, including Aurelian Oil & Gas Limited, Aurelian Oil & Gas Poland Sp. z.o.o, Energia Zachod Holdings Sp. z.o.o and AOG Finance Limited, in Poland, Netherlands, Ireland, England & Wales in respect of various matters including a final award in an ICC arbitration dated 21 May 2015. The total settlement of EUR23.3 million plus interest to be paid to Avobone by San Leon will be paid as follows, with EUR2.0 million being paid by 21 November 2016, EUR8.0 million by 28 April 2017, EUR8.0 million by 16 October 2017 and EUR5.3 million by 30 December 2017. Interest will accrue at a rate of 5% per annum on instalments until paid.

The provision made in the 2015 audited accounts for the Avobone dispute was approximately EUR20.6 million. The difference been the settlement figure and the provision is due to interest, exchange rate fluctuations, and further legal costs.

San Leon is confident that this settlement will not affect the previously-announced capital distribution policy, whereby 50% of free cash flow from San Leon's interest in the OML 18 asset will be returned to shareholders via either share buybacks or dividends for five years.

Enquiries:

 
 San Leon Energy plc 
  Oisin Fanning, Executive 
  Chairman                      +353 1291 6292 
 Brandon Hill Capital 
  Limited 
  Joint Broker 
  Oliver Stansfield             +44 (0) 20 
  Jonathan Evans                 3463 5000 
 SP Angel Corporate Finance 
  LLP 
  Nominated Adviser and 
  Joint Broker 
  Ewan Leggat                   +44 (0) 20 
  Richard Morrison               3470 0470 
 Whitman Howard Limited 
  Joint Broker 
  Nick Lovering                 +44 (0) 20 
  Francis North                  7659 1234 
 Vigo Communications 
  Financial Public Relations 
  Chris McMahon                 +44 (0) 20 
  Alexandra Roper                7830 9700 
 Plunkett Public Relations      +353 (0) 1 
  Sharon Plunkett                280 7873 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCAKODNDBDBNDK

(END) Dow Jones Newswires

November 08, 2016 02:00 ET (07:00 GMT)

1 Year San Leon Energy Chart

1 Year San Leon Energy Chart

1 Month San Leon Energy Chart

1 Month San Leon Energy Chart

Your Recent History

Delayed Upgrade Clock