Business
Completion of disposal of Rockhopper Egypt Pty Ltd
Completion of disposal of Rockhopper Egypt Pty Ltd.
About this update from Rockhopper Exploration Plc
[{"type":"text","content":"\n \n \n RNS Number : 4208E\n Rockhopper Exploration plc\n 28 February 2020\n \n \n \n \n 28 February 2020\n \n \n \n \n \n Rockhopper Exploration plc\n \n \n (\"Rockhopper\" or the \"Company\")\n \n \n \n \n \n Completion of disposal of Rockhopper Egypt Pty Limited\n \n \n \n \n \n Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with key interests in the North Falkland Basin, is pleased to announce that \n following satisfaction of the requisite conditions precedent, the \n disposal of Rockhopper Egypt Pty Limited\n to United Oil and Gas plc (\"United\") has now completed.\n \n \n \n \n \n As previously announced, \n the US$16.0 million consideration payable to Rockhopper under the transaction comprises:\n \n \n ·\n \n cash of $11.5 million; and\n \n \n ·\n \n the issue of 114,503,817 Consideration Shares (at an issue price of 3 pence) representing approximately 18.5% of United's enlarged ordinary share capital.\n \n \n \n \n \n Consideration Shares held by Rockhopper in United are subject to certain lock-up and orderly market disposal provisions for a period of up to 12 months from completion.\n \n \n \n \n \n It is anticipated that Stewart MacDonald, Rockhopper's Chief Financial Officer, will be appointed as a non-executive director of United.\n \n \n \n \n \n Hannam & Partners acted as financial adviser to Rockhopper in relation to this Transaction.\n \n \n \n \n \n \n \n \n Enquiries:\n \n \n \n \n \n Rockhopper Exploration plc\n \n \n Sam Moody - Chief Executive Officer\n \n \n Stewart MacDonald - Chief Financial Officer\n \n \n Tel. +44 (0) 20 7390 0234 (via Vigo Communications)\n \n \n \n \n \n Canaccord Genuity Limited (NOMAD and Joint Broker)\n \n \n Henry Fitzgerald-O'Connor/James Asensio\n \n \n Tel. +44 (0) 20 7523 8000\n \n \n \n \n \n Peel Hunt LLP (Joint Broker)\n \n \n Richard Crichton \n \n \n Tel. +44 (0) 20 7418 8900\n \n \n \n \n \n Vigo Communications\n \n \n Patrick d'Ancona/Ben Simons\n \n \n Tel. +44 (0) 20 7390 0234\n \n \n \n \n \n \n \n \n \n \n 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 ...