San Leon Energy PLC Toscafund - Appointment of Financial Adviser (2694D)

TIDMSLE

RNS Number : 2694D

San Leon Energy PLC

25 April 2017

25 April 2017

San Leon Energy plc

("San Leon" or the "Company")

Toscafund Asset Management LLP - Appointment of Financial Adviser

San Leon has been informed that Toscafund Asset Management LLP ("Toscafund"), which holds 59.52% of the issued share capital of San Leon, has informed the Company that it has appointed Hannam & Partners ("H&P") to conduct a review of the strategic options available to Toscafund. It understands that H&P has initiated an exercise to educate a small number of parties on the key assets and valuation of San Leon. This exercise had been conducted independently of SLE's board, management and advisers and was initiated more than three months after SLE's approach announcement.

Martin Hughes, Chief Executive Officer of Toscafund, commented: "Toscafund remains supportive of San Leon Energy and its management team. We understand that discussions continue between the board of San Leon and potential offerors and continue to encourage these discussions. This appointment is a function of Toscafund's ongoing commitment to securing optimal value for all shareholders of San Leon."

Oisin Fanning, Chief Executive Officer of San Leon, commented: "We note and welcome the involvement of Hannam & Partners as financial advisor to Toscafund."

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Directors' Responsibility Statement

The Directors of San Leon accept responsibility for the information contained in this announcement. To the best of their knowledge and belief (having taken all reasonable care to ensure such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.

Enquiries:

 
                                          + 353 1291 
 San Leon Energy plc                            6292 
 Oisin Fanning, Chief Executive 
 
 SP Angel Corporate Finance LLP          [phone] 
  (Nominated Adviser)                           0470 
 Richard Morrison 
 Richard Hail 
 Soltan Tagiev 
 
 Whitman Howard Limited (Financial       [phone] 
  adviser and Joint broker)                     1234 
 Nick Lovering 
 Francis North 
 
 Brandon Hill Capital Limited (Joint     [phone] 
  broker to the Company)                        5000 
 Oliver Stansfield 
 Jonathan Evans 
 
 Hannam & Partners (Financial adviser    [phone] 
  to Toscafund)                                 8500 
 Fergus Marcroft 
 Sam Merlin 
 Chris Byrne 
 
 Vigo Communications (Financial          [phone] 
  Public Relations)                             9700 
 Chris McMahon 
 Alexandra Roper 
 
                                          +353 1 280 
 Plunkett Public Relations                      7873 
 Sharon Plunkett 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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April 25, 2017 07:43 ET (11:43 GMT)