Bahamas Petroleum Company PLC Bahamas Fund Update (4456J)

TIDMBPC

RNS Number : 4456J

Bahamas Petroleum Company PLC

14 April 2020

Bahamas Petroleum Company plc

("Bahamas Petroleum" or the "Company")

Bahamas Fund Update

Further to the Company's announcement, on 13 March 2020, regarding the allotment of 35,337,328 ordinary shares (the "Fund Shares") to BPC Investment Fund Ltd (the "Fund"), admission to trading on AIM of the Fund Shares will not take place today as previously announced, as the Fund is yet to complete certain necessary administrative processes in The Bahamas. The Fund's ability to undertake this action has been significantly hampered and thus delayed by the State of Emergency declared and ongoing business disruption caused by the national response to the Covid-19 outbreak in The Bahamas . The expected admission date for the Fund Shares will be announced once timing for completion of the necessary administrative processes is known with certainty. The Company notes that, notwithstanding the delay in allotment, the subscription funds, amounting to approximately $0.9 million in respect of the Fund Shares, resides in the Mutual Fund Account.

For further information, please contact:

 
 Bahamas Petroleum Company plc                Tel: +44 (0) 1624 
  Simon Potter, Chief Executive Officer        647 882 
 Strand Hanson Limited - Nomad                Tel: +44 (0) 20 
  Rory Murphy / James Spinney / Jack Botros    7409 3494 
 Shore Capital Stockbrokers Limited           Tel: +44 (0) 207 
  Jerry Keen / Toby Gibbs / James Thomas       408 4090 
 CAMARCO                                      Tel: +44 (0) 20 
  Billy Clegg / James Crothers                 3757 4983

www.bpcplc.com

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

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 United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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