Bahamas Fund Update

RNS Number : 4456J

Bahamas Petroleum Company PLC

14 April 2020

 

14 April 2020

Bahamas Petroleum Company plc

("Bahamas Petroleum" or the "Company")

Bahamas Fund Update

Further to the Company's announcement, on 13 March 2020, regarding the allotment of 35,337,328 ordinary shares (the "Fund Shares") to BPC Investment Fund Ltd (the "Fund"), admission to trading on AIM of the Fund Shares will not take place today as previously announced, as the Fund is yet to complete certain necessary administrative processes in The Bahamas. The Fund's ability to undertake this action has been significantly hampered and thus delayed by the State of Emergency declared and ongoing business disruption caused by the national response to the Covid-19 outbreak in The Bahamas . The expected admission date for the Fund Shares will be announced once timing for completion of the necessary administrative processes is known with certainty. The Company notes that, notwithstanding the delay in allotment, the subscription funds, amounting to approximately $0.9 million in respect of the Fund Shares, resides in the Mutual Fund Account.

For further information, please contact:

Bahamas Petroleum Company plc Simon Potter, Chief Executive Officer	Tel: [phone]
Strand Hanson Limited - Nomad Rory Murphy / James Spinney / Jack Botros	Tel: [phone]
Shore Capital Stockbrokers Limited Jerry Keen / Toby Gibbs / James Thomas	Tel: [phone]
CAMARCO Billy Clegg / James Crothers	Tel: [phone]

www.bpcplc.com

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

 

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