Rockhopper Exploration plc Completion of disposal of Rockhopper Egypt Pty Ltd (4208E)
February 28 2020 - 2:00AM
UK Regulatory
TIDMRKH TIDMUOG
RNS Number : 4208E
Rockhopper Exploration plc
28 February 2020
28 February 2020
Rockhopper Exploration plc
("Rockhopper" or the "Company")
Completion of disposal of Rockhopper Egypt Pty Limited
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 following satisfaction
of the requisite conditions precedent, the disposal of Rockhopper
Egypt Pty Limited to United Oil and Gas plc ("United") has now
completed.
As previously announced, the US$16.0 million consideration
payable to Rockhopper under the transaction comprises:
-- cash of $11.5 million; and
-- 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.
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.
It is anticipated that Stewart MacDonald, Rockhopper's Chief
Financial Officer, will be appointed as a non-executive director of
United.
Hannam & Partners acted as financial adviser to Rockhopper
in relation to this Transaction.
Enquiries:
Rockhopper Exploration plc
Sam Moody - Chief Executive Officer
Stewart MacDonald - Chief Financial Officer
Tel. +44 (0) 20 7390 0234 (via Vigo Communications)
Canaccord Genuity Limited (NOMAD and Joint Broker)
Henry Fitzgerald-O'Connor/James Asensio
Tel. +44 (0) 20 7523 8000
Peel Hunt LLP (Joint Broker)
Richard Crichton
Tel. +44 (0) 20 7418 8900
Vigo Communications
Patrick d'Ancona/Ben Simons
Tel. +44 (0) 20 7390 0234
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END
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