Star Phoenix Group Ltd Subscription and Trinidad tax appeals update (4079B)
January 30 2020 - 2:00AM
UK Regulatory
TIDMSTA
RNS Number : 4079B
Star Phoenix Group Ltd
30 January 2020
Star Phoenix Group Ltd
("Star Phoenix" or "the Company")
30 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.
SUBSCRIPTION AND TRINIDAD TAX APPEALS UPDATE
Star Phoenix (AIM: STA), an international company with oil and
gas projects and oilfield service businesses in Trinidad and
Indonesia, provides an update in relation to the subscription to
raise approximately GBP520,000 announced on 20 January 2020.
The Company was advised by the investor that the proceeds from
the subscription are expected to be provided to the Company by
close of business on 7 February 2020. In the event that the
proceeds are not received by this date, the interest shall accrue
at a rate of 8% per annum, calculated daily until the date the
proceeds (and any accrued interest) are received into the Company's
bank account, in any event by no later than 28 February 2020. The
Company will make a further announcement on receipt of proceeds, at
which stage, an application to admit the subscription shares to
trading on AIM will be made.
The Company also advises that the ongoing tax appeal matters
that it is involved in have been further adjourned by the court in
Trinidad to a later date in 2020, with the date yet to be
confirmed.
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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