Star Phoenix Group Ltd Subscription and RRTL sale update (6495C)
February 11 2020 - 6:53AM
UK Regulatory
TIDMSTA
RNS Number : 6495C
Star Phoenix Group Ltd
11 February 2020
Star Phoenix Group Ltd
("Star Phoenix" or "the Company")
11 February 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 RRTL SALE 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 has yet to receive the proceeds from the subscription and
has now been advised by the investor that the proceeds should be
received by the Company by no later than 28 February 2020. Such
proceeds will be subject to a late fee payment as announced on 30
January 2020. On receipt of the subscription proceeds an
application will be made to admit the subscription shares to
trading on AIM. The Company will provide an update as and when
appropriate.
Following the Company's announcement on 6 February 2020, the
Company is seeking clarification from LandOcean Energy Services
Co., Ltd ("LandOcean") on timing for receipt of the US$1 million
cash consideration by LandOcean pursuant to the sale of Range
Resources Trinidad Limited. The Company will provide an update 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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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