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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Phoenix Global Resources Plc | LSE:PGR | London | Ordinary Share | GB00B7LHJ340 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 6.50 | 5.00 | 8.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPGR
RNS Number : 0338X
Phoenix Global Resources PLC
21 November 2017
Phoenix Global Resources plc
("Phoenix" or the "Company")
Interoil Demerger
On 7 November 2017 the Company announced how it proposed to implement the Interoil Demerger and the associated reduction of capital. In view of the duration between the Interoil Demerger Record Time (6.00 p.m. on 8 August 2017) and the Interoil Demerger ex dividend date (15 December 2017), in order to simplify procedures and avoid the potential complexity of reconciling market claims since 8 August 2017, it is intended that the Exchangeable GuernseyCo Shares to be issued in satisfaction of the Interoil Demerger Distribution will be issued directly to Shareholders on the Phoenix Register at 7.00 a.m. on 15 December 2017. The directors therefore intend to include Shareholders who have acquired Phoenix Shares arising from the exercise of warrants over Phoenix Shares between the Interoil Demerger Record Time and the Interoil ex dividend date pursuant to the authorities sought in the Resolutions to be put to Shareholders at the General Meeting to be held on 23 November 2017 if such Resolutions are passed.
Excluded from the issue of the Exchangeable GuernseyCo Shares will be US Phoenix Shareholders and Other US Phoenix Shareholders. As a result of the Interoil Demerger Record Time being 8 August 2017, Mercuria Energy Asset Management B.V. and its affiliated company Upstream Capital Partners VI Limited will not participate in the Interoil Demerger in respect of Phoenix Shares which they have acquired after the Interoil Demerger Record Time.
All references to times are to London times unless otherwise stated.
For further information, please contact:
Phoenix Global Anuj Sharma, T: +54 11 5258 Resources plc CEO 7500 Philip Wolfe, T: +44 20 7839 CFO 4974 Stockdale Securities Antonio Bossi T: +44 20 7601 Ed Thomas 6100 Panmure Gordon Adam James T: +44 20 7886 Atholl Tweedie 2500 Camarco Billy Clegg T: +44 20 3757 Gordon Poole 4980 James Crothers
Capitalised terms used but not defined in this announcement have the same meaning as in the Circular published by the Company on 7 November 2017 and available on its website at www.phoenixglobalresources.com
About Phoenix
Phoenix Global Resources is a London Stock Exchange (AIM: PGR) and Buenos Aires Stock Exchange (BCBA: PGR) listed independent Argentina focused oil and gas exploration and production company. The Company has over 6.3 million licensed working interest acres in Argentina (of which over 5 million are operated), 61.7 million boe of working interest 2P reserves and average production of approximately 11,300 working interest boepd in 2016. Phoenix has significant exposure to the unconventional opportunity in Argentina through its 480,000 working interest acres with Vaca Muerta potential.
The Company's website is www.phoenixglobalresources.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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November 21, 2017 02:00 ET (07:00 GMT)
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