UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE
13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October 2023
Commission File Number 001-39171
BROOGE ENERGY LIMITED
(Translation of registrant’s name into English)
c/o Brooge Petroleum and Gas Investment Company FZE
P.O. Box 50170
Fujairah, United Arab Emirates
+971 9 201 6666
(Address of principal executive office)
Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
On October 3, 2023,
Brooge Energy Limited (the “Company”) issued a press release announcing that Gulf Navigation Holding PJSC (“GULFNAV”),
the Dubai Financial Market listed maritime and shipping company, has submitted a formal proposal to acquire all of the businesses and
assets of the Company. GULFNAV has stated that this proposed acquisition is part of its strategy to enhance growth and provide an integrated
portfolio of logistical services related to oil, petrochemicals and gas. The proposed acquisition is still in an early stage, as GULFNAV
is in the process of conducting further due diligence on BPGIC and its legal and financial advisors continue to evaluate the transaction.
The full text of the
press release is furnished as Exhibit 99.1 hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
BROOGE ENERGY LIMITED |
|
|
|
Date: October 3, 2023 |
By: |
/s/ Paul Ditchburn |
|
|
Name: Paul Ditchburn
Title: Chief Financial Officer |
Exhibit 99.1
GULFNAV Submits Proposal to Acquire all
of the Businesses and Assets of Brooge Energy Limited
NEW YORK, October 3, 2023, Brooge
Energy Ltd, (“Brooge Energy” or the “Company”) (NASDAQ: BROG), a Cayman Islands-based infrastructure provider,
which is currently engaged in clean petroleum products and biofuels and crude oil storage and related services, today announced receiving
a formal proposal submitted by Gulf Navigation Holdings PJSC (“GULFNAV”), the Dubai Financial Market listed maritime and shipping
company, to acquire fully all of the businesses and assets from Brooge Energy Limited (“BEL”).
GULFNAV has stated that this proposed acquisition
is part of its strategy to enhance growth and provide an integrated portfolio of logistical services related to oil, petrochemicals and
gas. The proposed acquisition is still in an early stage, as GULFNAV is in the process of conducting further due diligence on the Company
and its legal and financial advisors continue to evaluate the proposed transaction. In addition, BEL has not responded to GULFNAV’s
proposal and there is no guarantee it will accept the proposal. The proposed transaction, if it moves forward, would be subject to customary
closing conditions for transactions of this nature, including obtaining the necessary regulatory approvals. GULFNAV is optimistic that
the proposed transaction, if agreed by both parties, would target closing in the fourth quarter of 2023. Nevertheless, any developments
regarding the deal and the timeline will be appropriately disclosed to the market in due course.
Brooge Energy’s subsidiary Brooge
Petroleum and Gas Investment Company FZE (“BPGIC”) is currently one of the most technologically advanced companies in the
crude oil storage services sector, as the Company’s facilities and terminals use advanced technologies consistent with the best
international standards. BPGIC has strengthened its investments and presence in the Emirate of Fujairah thanks to its important strategic
location globally, and that it is an important hub in oil storage. Expectations indicate that the oil storage sector in the UAE will witness
further development in light of the growing demand witnessed by the market.
GULFNAV supports some of the Middle East's
largest oil & gas companies with a fleet of first-rate tankers, offshore support vessels and crew boats; complemented by the full
spectrum of ship management and agency services. GULFNAV works with some of the world’s largest petrochemical companies and independent
trading houses, specializing in the transportation of crude oil and chemical products. With its headquarters in Dubai, the GULFNAV also
provides its services from the ports of Fujairah and Khorfakkan, along with an overseas office in the Kingdom of Saudi Arabia.
About Gulf Navigation
Holding:
Gulf Navigation
Holding PJSC (“GULFNAV”) is a fully integrated and synergized organization with a multifunctional business. It is the only
maritime and shipping company listed in the Dubai Financial Market since February 2007 under the symbol “GULFNAV”. The Company
is headquartered in Dubai, with branch offices inside the ports of Fujairah and Khorfakkan, along with an overseas office in the Kingdom
of Saudi Arabia. The Company has a fleet of chemical tankers, livestock transport vessels, well stimulation vessels, operation support
vessels, marine services, and ship repair operations. As an ISO 9001:2015 certified company accredited by Bureau Veritas, GULFNAV
is committed to adhering to the requirements of the international safety management code for the safe operations of vessels, pollution
prevention and environmental control, including compliance with all the applicable international laws, regulations and requirements. GULFNAV
constantly works to upgrade its operations and provide high-quality services to local and international markets.
About Brooge Energy Limited
Brooge
Energy Ltd, is a Cayman Islands-based infrastructure provider now intending to focus on renewable energy infrastructures and biofuels,
next to clean petroleum products, crude oil storage and related services. The company conducts its business and operations through its
subsidiaries Brooge Renewable Energy (BRE), Brooge Petroleum and Gas Investment Company FZE (BPGIC), and Brooge Petroleum and Gas Investment
Company Phase 3 FZE. BPGIC, the Company’s primary operating subsidiary that focuses on midstream oil storage and other services,
is strategically located outside the Strait of Hormuz at the Port of Fujairah in the Emirate of Fujairah in the UAE. The Company differentiates
itself from competitors by providing customers with fast order processing times, excellent customer service and high accuracy blending
services with low product losses. For more information, please visit at www.broogeenergy.com.
Forward-Looking
Statements
This press release contains statements that
are not historical facts, including the Company’s anticipated shift towards green energy and targeted production at BRE’s
planned Green Hydrogen and Green Ammonia plant and constitute “forward-looking statements” within the meaning of the safe
harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements reflect management’s current views
based on certain assumptions, and they involve risks and uncertainties. Actual results, events or performance may differ materially from
the forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including availability
of labor and other resources needed to for completion of the new plant, timing of obtaining regulatory approvals needed with respect to
the new facility, the Company’s ability to complete construction and initiate operations of the new facility on the anticipated
timeline or at all, the Company’s ability to maintain the lease for the new facility, and other risks described in public reports
filed by Brooge Energy with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance upon any forward-looking
statements, which speak only as of the date made. Brooge Energy does not undertake any obligation to update or revise the forward-looking
statements, whether as a result of new information, future events or otherwise.
Investor Contact
KCSA Strategic Communications
Valter Pinto, Managing Director
+1 212-896-1254
BROG@kcsa.com
Brooge Energy (NASDAQ:BROG)
Historical Stock Chart
From Dec 2024 to Jan 2025
Brooge Energy (NASDAQ:BROG)
Historical Stock Chart
From Jan 2024 to Jan 2025