Business
Possible Acquisition and Suspension of Trading
Possible Acquisition and Suspension of Trading.
About this update from United Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 9356Y Senterra Energy PLC 23 May 2016 \n\nFor immediate release 23 May 2016\n \n \nSenterra Energy plc\n \n(\"Senterra\", \"Senterra Energy\" or the \"Company\")\n \n \nPossible Acquisition \nand \nSuspension of Trading\n \nThe Directors of Senterra Energy are pleased to inform shareholders that it has signed a non-binding letter of intent (\"LOI\") to acquire the entire issued share capital of Oasis Smart Sim PTE Ltd, a sim-card technology business based in Singapore (\"Business\") for new shares in the Company (the \"Acquisition\"). The Acquisition, if completed, would result in Senterra shareholders having around 15 per cent. of the enlarged group (the \"Group\") prior to the impact of any associated fund raising.\n \nOasis was founded in 2010 and is a limited private company incorporated and domiciled in Singapore where it is also headquartered. The company's principal activities are in the design, manufacture and distribution of telecommunication software and other telecommunication activities. In the financial year to 31 December 2015, Oasis had an unaudited turnover of approximately US$13 million.\nOasis's current production portfolio includes a full range of 2G, 3G and 4G compatible SIM cards, available in different sizes, capacities, formats and using different system technologies. In addition Oasis is also developing software and solutions to enable entry into the market where SIM functionality will be embedded into connected devices.\nAs announced in February, the Company has been approached by a number of parties with opportunities outside that of the energy sector who have expresse...