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ORCP Oracle Power Plc

0.0235
0.0005 (2.17%)
Last Updated: 09:33:18
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Oracle Power Plc LSE:ORCP London Ordinary Share GB00B23JN426 ORD 0.001P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.0005 2.17% 0.0235 0.022 0.025 0.0235 0.0215 0.023 9,148,549 09:33:18
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Coal Mining Services 0 -1.29M -0.0003 -0.67 747.08k

Oracle Power PLC Update re Ceremonial Signing of MOU (9624X)

03/05/2019 7:00am

UK Regulatory


Oracle Power (LSE:ORCP)
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TIDMORCP

RNS Number : 9624X

Oracle Power PLC

03 May 2019

3 May 2019

Oracle Power PLC

("Oracle" or "the Company")

Update re Ceremonial Signing of MOU

Oracle Power PLC (AIM:ORCP), the UK energy developer of a combined lignite coal mine and mine mouth power plant located in the south-eastern Sindh Province of Pakistan (Thar Block VI), advises that it received on 1 May 2019 the Memorandum of Understanding ("MOU"), ceremonially signed on 27 April 2019 by representatives of Beijing Jingneng Power Company Limited ("Beijing Jingneng"), PowerChina International Group Limited ("PowerChina") and Oracle, as announced on 29 April 2019.

It was stated on 29 April 2019 that there were no changes to the MOU announced on 27 March 2019 ("March MOU"). The board of Oracle ("Board") has noted that in the document received certain sections from the March MOU have been removed. Following requests for clarification, PowerChina has indicated in a letter of 2 May 2019 that the March MOU remains valid and the document received on 1 May 2019 is only ceremonial. Oracle is seeking similar confirmation from Beijing Jingneng. As such, the Board considers that the March MOU remains valid.

Further updates will be provided to shareholders in due course.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information please contact:

 
     Oracle Power PLC                                 +44 (0) 203 580 
      Naheed Memon                                     4316 
     Strand Hanson Limited (Nominated Adviser)        +44 (0) 20 7409 
      Rory Murphy, James Harris, Jack Botros           3494 
     Brandon Hill Capital Limited                     +44 (0)203 463 
      Oliver Stansfield                                5000 
     Peterhouse Corporate Finance                     +44 (0) 207 220 
      Charles Goodfellow                               9791 
     Blytheweigh                                      +44 (0) 207 138 
      Tim Blythe, Camilla Horsfall, Megan Ray          3204 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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(END) Dow Jones Newswires

May 03, 2019 02:00 ET (06:00 GMT)

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