Star Phoenix Group Ltd Drilling rigs sale update (5781Y)

TIDMSTA

RNS Number : 5781Y

Star Phoenix Group Ltd

02 January 2020

Star Phoenix Group Ltd

("Star Phoenix" or "the Company")

2 January 2020

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

DRILLING RIGS SALE UPDATE

Following the announcement on 23 December 2019, Star Phoenix, an international company with oil and gas projects and oilfield service businesses in Trinidad and Indonesia, announces that following the buyer failing to provide the Company with the agreed cash consideration for the sale of four drilling rigs and related equipment, the Company has decided to terminate the transaction with the buyer and has commenced a new sale process for the drilling rigs and related equipment. Further updates will be provided as and when appropriate.

 
 
   Contact Details 
                                         Cantor Fitzgerald Europe (Nominated 
   Star Phoenix Group Ltd                 Adviser and Broker) 
   Evgenia Bezruchko (Group Corporate     David Porter / Rick Thompson (Corporate 
   Development Manager & Joint Company    Finance) 
   Secretary)                             t. +44 (0)20 7894 7000 
   e. admin@starphoenixgroup.com 
   t. +44 (0)20 3865 8430

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END

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January 02, 2020 07:54 ET (12:54 GMT)

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