Maple Energy plc Ethanol Business Update and Suspension of Trading (0777Z)

TIDMMPLE

RNS Number : 0777Z

Maple Energy plc

08 December 2014

MAPLE ENERGY PLC

("Maple" or the "Company")

Ethanol Business Update and Suspension of Trading on AIM

Further to the notification by Maple on 4 December 2014, which stated that the Company's subsidiaries responsible for its ethanol business, Maple Etanol S.R.L. and Maple Biocombustibles S.R.L. (together, the "Ethanol Companies"), had received a notice of event of default in respect of the existing loans ("Ethanol Loans") to the Ethanol Companies from its senior lenders (the "Senior Lenders"), the Company confirms that, on 5 December 2014, the Ethanol Companies received notices from the trustees of the Senior Lenders enforcing the security granted in respect of the Ethanol Loans.

The Company continues to work with the Senior Lenders to define the steps and actions that will be taken with regard to the Ethanol Companies and is negotiating a term sheet with the Senior Lenders (the "Term Sheet"). Whilst the Company hopes to agree the Term Sheet in the near future, there is no guarantee that the Term Sheet will be concluded on terms acceptable to the Company or at all, or that any material value will accrue to Maple's shareholders as a consequence. The Company confirms that Maple Gas Corporation del Peru S.R.L., the subsidiary of the Company dedicated to the hydrocarbon production, refining and marketing operations, continues to operate normally.

As a result of the current uncertainty with regard to the Company's ethanol assets and its present and future financial condition, the Company has requested that trading in the Company's shares on AIM be suspended pending further clarification and the outcome of negotiations with the Senior Lenders.

A further announcement will be made in due course.

For further information, please contact:

Maple Energy plc ([phone])

Guillermo Ferreyros Cannock, Chief Executive Officer, and Executive Director

Cenkos Securities plc ([phone])

Derrick Lee

Alan Stewart

This information is provided by RNS

The company news service from the London Stock Exchange

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