Share Name Share Symbol Market Type Share ISIN Share Description
Starvest Plc LSE:SVE London Ordinary Share GB0009619817 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 1.75p 1.50p 2.00p 1.75p 1.75p 1.75p 0 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 0.0 -0.3 -0.6 - 1

Starvest PLC Investee Company Cash acquisition by United Energy

05/04/2019 9:02am

UK Regulatory (RNS & others)


Starvest (LSE:SVE)
Historical Stock Chart

1 Year : From Oct 2018 to Oct 2019

Click Here for more Starvest Charts.

TIDMSVE

RNS Number : 2728V

Starvest PLC

05 April 2019

05 April 2019

Starvest Plc ("Starvest" or the "Company")

Investee Company Kuwait Energy, Cash acquisition by United Energy Group

Starvest PLC (LON:SVE), the London Stock Exchange AIM-listed specialist mining and resources investment business, is pleased to announce that investee company Kuwait Energy plc (KEC) has been acquired by Hong Kong listed United Energy Group Limited (UEG) in an all-cash transaction. Starvest realised a total return of approximately 25% on its investment in KEC, which Starvest initiated in 2005 through a stake in Concorde Oil and Gas a company which was eventually taken over by Kuwait Energy in 2011.

Highlights:

-- UEG has paid US$1.464 per share, or a total consideration of approximately US$477 million

-- Transaction received all regulatory approvals in late March 2019

-- Starvest has received approximately GBP123,800

Callum Baxter, Chairman and CEO, commented: 'We welcome completion of the acquisition of Kuwait Energy as approved by KEC shareholders late last year. This closes our share holding in KEC and funds have been received in full by Starvest. We plan to use the funds to add to our existing portfolio of mining and resource stocks.'

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.

Callum N Baxter

Chairman & Chief Executive

05 April 2019

Enquiries to:

Starvest PLC

Callum Baxter or Gemma Cryan 020 7769 6876

info@starvest.co.uk

Grant Thornton UK LLP (Nomad)

Colin Aaronson, Harrison Clarke or Seamus Fricker 020 7383 5100

SI Capital Ltd (Broker)

Nick Emerson or Alan Gunn 01483 413 500

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

MSCCKPDKFBKKKQK

(END) Dow Jones Newswires

April 05, 2019 04:02 ET (08:02 GMT)

1 Year Starvest Chart

1 Year Starvest Chart

1 Month Starvest Chart

1 Month Starvest Chart
Your Recent History
LSE
SVE
Starvest
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20191017 15:49:24