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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Max Petrol | LSE:MXP | London | Ordinary Share | GB00B0H1P667 | ORD 0.01P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.16 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMMXP
RNS Number : 1755G
Max Petroleum PLC
02 March 2015
2 March 2015
Max Petroleum Plc
("Max Petroleum" or the "Company")
Statement re suspension
Max Petroleum announces that, following its announcements of 9 February 2015 and 19 February 2015, it has requested that trading in its ordinary shares on the AIM market of London Stock Exchange plc be suspended pending the outcome of final negotiations with Sberbank regarding an appropriate debt restructuring and with AGR Energy regarding an equity investment that, together with the debt restructuring, would render the Company viable.
The Directors of Max Petroleum currently believe that there remains a reasonable prospect that these discussions could result in a sufficient refinancing of the Company and, on that basis, have not yet put the Company into administration.
However, in light of the protracted nature of the discussions as well as outstanding creditor payments, including a material amount that became due on 25 February 2015 to the Kazakh tax authorities and payable in early March 2015, there is now only a very limited period remaining to achieve such a refinancing. If current negotiations are unsuccessful, or if other events outside the control of the Company require that the Company ceases trading while such negotiations are ongoing, then the consequences will be negative for all stakeholders in the Company.
A further announcement will be made in due course.
ENQUIRIES:
Hot Features
Premium
+44 (0) 20 3713
Max Petroleum Plc 4015
Tom Randell
Oriel Securities Limited
+44 (0) 20 7710
Michael Shaw 7600
Tom Yeadon
Save where the context requires otherwise, capitalised and technical terms used in this announcement shall have the same meaning as ascribed to them in the Company's circular to shareholders dated 12 November 2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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