Business
Acquisition Update
Acquisition Update.
About this update from Contango Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 8235A Contango Holdings PLC 31 May 2019 \n\nContango Holdings Plc / Index: LSE / Epic: CGO / Sector: Natural Resources\n \n31 May 2019\nContango Holdings Plc\n(\"Contango\" or the \"Company\")\nAcquisition Update\n \nContango Holdings Plc (\"Contango\" or the \"Company\") is pleased to update shareholders with respect to its proposed acquisition of the Lubu Coalfield project in Zimbabwe (\"Lubu Coalfield\") from Consolidated Growth Holdings Limited (\"CGH\"). The Company has made significant progress and now expects to be in a position to issue a prospectus for shareholders' consideration in the current quarter, as outlined in its most recent announcement of 09 April 2019.\nAs a sign of its increasing expectation of a successful close to the transaction, the Board of Contango has agreed to pay US$120,000 to CGH so that it can continue to progress the Lubu Coalfield. In the event the transaction does not unconditionally complete by, at the latest, 24 December 2019, CGH will be obliged to repay the US$120,000 to the Company, potentially with additional interest.\nContango will provide a more detailed update to shareholders in due course.\n \n \n* ENDS *\n \nFor further information, please visit www.contango-holdings-plc.co.uk or contact:\n \n\n\n\nContango Holdings plc\n\n\nE: [email protected]\n\n\n\n\n \n\n\n \n\n\n\n\nBrandon Hill Capital Limited\nFinancial Adviser & Broker\nJonathan Evans\n\n\nT: +44 (0)20 3463 5000\n\n\n\n\n \n\n\n \n\n\n\n\nSt Brides Partners Ltd\nFinancial PR & Investor Relations\nCatherine Leftley/Cosima Akerman\n\n\nT: +44 (0)20 7236 1177\n\n\n\n \n\nThis 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 [email protected] or visit www.rns.com. END ACQEASSFDLDNEFF\n ","length":3718,"tagName":"div"}]