Statement re. Suspension

RNS Number : 8385F

Saffron Energy PLC

23 February 2018

 

23 February 2018

Saffron Energy plc

("Saffron Energy" or the "Company")

Temporary Suspension of Trading on AIM

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On 16 February 2018, Saffron Energy, the pan Euro Asian gas explorer announced that it had published a circular to shareholders comprising an AIM admission document ("AIM Admission Document"), convening a general meeting at which shareholders were invited to approve, inter alia, the proposed acquisitions of SEHIL and PVO and the issue of shares necessary to complete the fundraising announced on 22 January 2018.

The Company is expecting to update investors shortly regarding its South East Asian acquisitions and a fundamental change to an element of the transaction which will likely require the publication of a supplementary AIM admission document. As the Company is not yet in a position to give details of a termination agreement in respect to that element of the transaction that is in the process of negotiation, it has requested a short, temporary suspension of trading in its shares pending announcement of an agreement in respect of that element of the transaction and publication of the Supplementary AIM Admission Document,

A further announcement will be made as soon as possible but in any event, no later than Tuesday 27 February, when the Company intends to update investors on its activities in South East Asia and the proposed acquisitions of SEHIL and PVO.

Saffron Energy plc / Coro Energy plc Sara Edmonson, Chief Executive Officer James Parsons, Non-Executive Chairman	[e-mail] [e-mail]
Grant Thornton UK LLP (Financial and Nominated Adviser) Colin Aaronson/Jen Clarke/Harrison J Clarke	Tel: [phone]
Turner Pope Investments (TPI) Ltd (Broker) Ben Turner/James Pope	Tel: [phone] [e-mail]

 The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

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