Business
Acquisition of Tailwind Energy Investments Ltd
Acquisition of Tailwind Energy Investments Ltd.
About this update from Serica Energy Plc
[{"type":"text","content":"\n \n \n \n Serica Energy plc\n \n \n \n \n (\"Serica\" or the \"Company\")\n \n \n \n \n Acquisition of Tailwind Energy\n \n \n Investments Ltd\n \n \n \n \n London, 21 March 2023\n \n \n \n \n - Further to the announcement on 20 December 2022 and subsequent shareholder approval on 27 January 2023, Serica Energy plc (AIM: SQZ) is pleased to announce that the conditions precedent pursuant to the sale and purchase agreement (the \"SPA\") for the acquisition of Tailwind\n Energy Investments Ltd (\"Tailwind\") (the \"Acquisition\") from Tailwind Energy Holdings LLP have been satisfied (save for the condition precedent relating to the Admission of the Completion Consideration Shares, as defined below). Completion will occur immediately following Admission of the Completion Consideration Shares.\n \n \n In connection with the Acquisition, up to 111,048,124 new ordinary shares in Serica (the \"Consideration Shares\") will be allotted and issued. An application has been made to the London Stock Exchange for 108,170,426 Consideration Shares[1] (the \"CompletionConsideration Shares\") to be admitted to trading on AIM (\"Admission\"). It is expected that Admission will take place at 8.00 a.m. on or around 27 March 2023 and that dealings on AIM will commence at the same time. When issued, the Consideration Shares will be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of US$0.10 each in the capital of the Company.\n \n \n Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the announcement of the Acquisition made by the Company on 20 December 2022.\n \n \n \n \n \n \n \n \n \n \n \n Enquiries:\n \n \n \n \n \n \n \n \n \n \n \n \n \n Serica Energy plc\n \n \n \n \n \n \n +44 (0)20 7390 0230 \n \n \n \n \n \n \n \n Mitch Flegg (CEO) / Andy Bell (CFO)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Rothschild & Co. (Financial Advisor)\n \n \n \n \n \n \n +44 (0)20 7280 5000\n \n \n \n \n \n \n \n James McEwen / Murray Yuill\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Peel Hunt LLP (Nomad & Joint Broker)\n \n \n \n \n \n \n +44 (0)20 7418 8900\n \n \n \n \n \n \n \n Richard Crichton / David McKeown\n \n \n \n \n \n ...