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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Savannah Energy Plc | LSE:SAVE | London | Ordinary Share | GB00BP41S218 | ORD GBP0.001 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 26.25 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Drilling Oil And Gas Wells | 212.5M | -60.87M | -0.0466 | -5.63 | 342.85M |
From May 2019 to May 2024
TIDMSAVP
RNS Number : 9639K
Savannah Petroleum PLC
13 July 2017
13 July 2017
Savannah Petroleum PLC
("Savannah" or the "Company")
Statement Regarding Media Speculation
Further to the "Statement Regarding Suspension" announcement on 8 June 2017, Savannah notes recent media speculation regarding the identity of the West African focused business (the "Target") with which it has entered into a binding exclusivity agreement in relation to the potential acquisition of substantially all of their oil and gas assets in the region (the "Proposed Transaction").
Savannah confirms that the Target is Seven Energy International Limited, a Nigerian focused oil and gas company. Savannah will provide further updates in due course and continues to seek to complete the Proposed Transaction on an accelerated timescale.
As previously announced, if completed on the currently envisaged terms, the Proposed Transaction would be classified as a reverse takeover in accordance with the AIM Rules for Companies. Accordingly, the Company's shares remain suspended from trading on AIM and will remain so until either the publication of an admission document setting out, inter alia, details of the Proposed Transaction or until confirmation is given that these discussions have ceased.
For further information contact: Savannah Petroleum +44 (0) 20 3817 9844 Andrew Knott, CEO Jessica Hostage, Corporate Communications Strand Hanson (Nominated Adviser) +44 (0) 20 7409 3494 Rory Murphy James Spinney Ritchie Balmer Hannam & Partners (Financial Adviser) Neil Passmore Chris Byrne Sam Merlin PJT Partners (Financial Adviser) David Riddell Matthew Slaffer +44 (0) 20 7907 8500 Brad Knudtson +44 (0) 20 3650 1100 Mirabaud (Joint Broker) +44 (0) 20 7878 3362 Peter Krens Rory Scott Stifel Nicolaus Europe Limited (Joint Broker) +44 (0) 20 7710 7600 Callum Stewart Nicholas Rhodes Ashton Clanfield Celicourt Communications +44 (0) 20 7520 9266 Mark Antelme Jimmy Lea
The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No. 596/2014, and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
July 13, 2017 06:00 ET (10:00 GMT)
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