Challenger Energy Group PLC Change of Name to Challenger Energy Group PLC (3497Z)

TIDMCEG

RNS Number : 3497Z

Challenger Energy Group PLC

21 May 2021

Bahamas Petroleum Company PLC

("Bahamas Petroleum" or the "Company")

Change of Name to Challenger Energy Group PLC

Bahamas Petroleum, the Caribbean and Atlantic margin focused oil and gas company, with production, appraisal, development and onshore and offshore exploration assets across the region, is pleased to announce that, further to the passing of all resolutions at the Company's Extraordinary General Meeting on 17 May 2021, the Company's change of name has been effected by the Isle of Man Registrar of Companies. As such, the Company's shares on AIM, as of 08:00 a.m. today, will be under its new name Challenger Energy Group PLC ("Challenger Energy") and its new ticker of "CEG".

The Company's ISIN (IM00B3NTV894) and SEDOL (B3NTV89) remain unchanged. Shareholders should note that their shareholdings will be unaffected by the change of name. Existing share certificates should be retained by Shareholders holding ordinary shares in certificated form as they will remain valid for all purposes and no new share certificates will be issued.

The Company's website address will be updated later today to https://www.cegplc.com . Until then, the Company's website remains at https://www.bpcplc.com/ which includes the information required by AIM Rule 26.

Eytan Uliel, Challenger Energy CEO Designate, said:

"With the spud of the highly anticipated Saffron-2 appraisal well now just days away, we are pleased that in addition to the successful completion of our fundraising as announced on 20 May 2021, shareholders at the EGM supported all of our broader corporate reset objectives, including the change of name of the company to Challenger Energy, which has now taken effect. As Challenger Energy, our immediate strategic priority is to drive production and cashflow growth, through intelligent management and deployment of our resources. Our change of name, and the broader corporate reset currently underway, is in support of this strategic priority, which we see as the lynchpin for shareholder value growth both in the near-term and in the years ahead. All of us at Challenger Energy look forward to beginning the next chapter."

For further information, please contact:

 
 Challenger Energy Group PLC                  Tel: +44 (0) 1624 
  Eytan Uliel, Chief Executive Officer         647 882 
  designate 
 Strand Hanson Limited - Nomad                Tel: +44 (0) 20 
  Rory Murphy / James Spinney / Rob Patrick    7409 3494 
 Shore Capital Stockbrokers Limited           Tel: +44 (0) 207 
  - J oint Broker                              408 4090 
  Jerry Keen / Toby Gibbs 
 Investec Bank Plc - J oint Broker            Tel: +4 4 (0) 207 
  Chris Sim / Rahul Sharma                     597 5970 
 Gneiss Energy - Financial Adviser            Tel: +44 (0) 20 
  Jon Fitzpatrick / Paul Weidman / Doug        3983 9263 
  Rycroft 
 CAMARCO                                      Tel: +44 (0) 020 3757 
  Billy Clegg / James Crothers / Hugo          4980 
  Liddy

Notes to Editors

Challenger Energy is a Caribbean and Atlantic margin focused oil and gas company, with a range of exploration, appraisal, development and production assets and licences, located onshore in Trinidad and Tobago, and Suriname, and offshore in the waters of The Bahamas and Uruguay. In Trinidad and Tobago, Challenger Energy has five (5) producing fields, two (2) appraisal / development projects and a prospective exploration portfolio in the South West Peninsula. In Suriname, Challenger Energy has on onshore appraisal / development project. Challenger Energy's exploration licence in each of Uruguay and The Bahamas are highly prospective, and offer high-impact value exposure within the overall portfolio value.

Challenger Energy is quoted on the AIM market of the London Stock Exchange.

https://www.cegplc.com

ENDS

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May 21, 2021 02:00 ET (06:00 GMT)

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