Namibian Resources PLC Update on Proposed Acquisition (4359T)

TIDMNBR

RNS Number : 4359T

Namibian Resources PLC

30 March 2016

30 March 2016

Namibian Resources plc ('Namibian' or 'the Company')

Update on Proposed Acquisition

Further to the announcement made on 21 December 2015 (the "Announcement"), Namibian provides the following update in respect of its agreement with the French-registered holding company, Sister Holding SAS (the "Agreement"), to acquire shares in Petro Kouilou S.A. ("Petro Kouilou"), a company registered in the Republic of the Congo ("the Acquisition").

As mentioned in the Announcement, the long-stop date for completion of the Acquisition was, unless extended by agreement, 15 March 2016. Pursuant to a letter agreement between Namibian and Sister Holding SAS, the long-stop date has been extended such that the Agreement will continue in force unless terminated with 14 days written notice by either party.

In accordance with Rule 14 of the AIM Rules for Companies, shares in the Company remain suspended pending publication of an AIM admission document in respect of the Acquisition.

The Company remains committed to the completion of the Acquisition and looks forward to providing further updates in due course.

Contacts

 
 Namibian Resources Plc 
 Brian Moritz, Director        Tel: +44 7976 
                                994300 
 Alex MacDonald, Director      Tel: + 44 7831 
                                642064 
 Cenkos Securities plc 
 Nick Tulloch/Beth McKiernan   Tel: +44 131 
                                220 9772/9778 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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March 30, 2016 02:00 ET (06:00 GMT)