Business
Completion of Part Disposal
Completion of Part Disposal.
About this update from Caspian Sunrise Plc
[{"type":"text","content":"\n RNS Number : 5422E Roxi Petroleum Plc 22 December 2009 \n \n\nRoxi Petroleum (\"Roxi\" or \"the Company\")\nCompletion of the part disposal of BNG \n\n22 December 2009 \n\nBNG Completion\n\nRoxi is pleased to announce that the part disposal of BNG ltd LLP and its assets (\"BNG\") approved by Roxi shareholders on 17 November 2009 has been completed. Accordingly, Roxi's subsidiary, BNG Energy B.V, has transferred a 23% interest in BNG to Canamens BNG B.V. (\"Canamens\") in return for BNG funding commitments of $32 million from Canamens. Canamens will also pay Roxi a $2 million completion payment.\nAdditionally, Roxi and Canamens have agreed to extend the date, from 31 December 2009 to 31 March 2010, by which Canamens may exercise its option to purchase an additional 12 per cent interest in BNG from Roxi for a further work programme funding commitment of $23 million\n\nRob Schoonbrood CEO commented\n\n\"The completion of stage 1 of the part disposal of BNG is an important step for the Company and we are delighted to have secured funding for one of our principal assets\"\n\nEnquiries\nRoxi Petroleum plc\nClive Carver, non-executive chairman +44 207 600 1658\n\nCollege Hill (Financial PR)\nNick Elwes / Simon Whitehead +44 207 457 2020\n\nMatrix Corporate Capital LLP (NOMAD and broker) \nAlastair Stratton / Anu Tayal +44 203 206 7000\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCBLLFLKLBXFBF \n ","length":4232,"tagName":"div"}]