Update on Strategic Review and FSP

RNS Number : 2564S

Empyrean Energy PLC

22 September 2014

 



22 September 2014

Empyrean Energy PLC ('Empyrean' or 'the Company')

Update on Strategic Review and FSP

Further to the announcement by the Company on 10 July 2014 in connection with a strategic review and the commencement of a formal sale process, Empyrean advises that it has set a closing date for bids of 25 September 2014.

As notified previously, the Board reserves the right to alter any aspect of the process as outlined above or to terminate it at any time and will make further announcements as appropriate. The Board reserves the right to reject any approach or terminate discussions with any interested party or participant at any time.  Following the receipt of any bids, a period of evaluation is expected before the Company makes any further announcement.

This announcement is not an announcement of a firm intention to make an offer under Rule 2.7 of the City Code on Takeovers and Mergers and there can be no certainty that an offer will be made, nor as to the terms on which any offer will be made.

The details of the formal sale process are set out in the announcement by the Company on 10 July 2014.

For further information please visit www.empyreanenergy.com or contact the following:

Empyrean Energy plc
Tom Kelly		Tel: [phone]
Cenkos Securities plc (Rule 3 and Joint Financial Adviser)
Neil McDonald	[e-mail]	Tel: [phone]
Nick Tulloch	[e-mail]	Tel: [phone]
Macquarie Capital (Joint Financial Adviser)
Randy Byrne	[e-mail]	Tel: [phone]
Chase Edgelow	[e-mail]	Tel: [phone]
St Brides Media & Finance (Public Relations Adviser)
Hugo de Salis	[e-mail]	Tel: [phone]
Elisabeth Cowell	[e-mail]	Tel: [phone]
Lottie Brocklehurst	[e-mail]	Tel: [phone]

In accordance with Rule 30.4 of the Code, a copy of this announcement will be available on the Company's website at www.empyreanenergy.com as soon as possible and in any event no later than 12:00 noon (London time) on 23 September 2014 (being the business day following the date of this announcement). The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

Cenkos Securities plc is acting exclusively as financial adviser to Empyrean and no one else in connection with the matters described in this announcement. In connection with such matters, Cenkos Securities plc, its affiliates and their respective directors, officers, employees and agents will not regard any other person as their client, nor will they be responsible to any other person other than Empyrean for providing the protections afforded to clients of Cenkos Securities plc or for providing advice in connection with the matters described in this announcement or any matter referred to herein.

Macquarie Capital is acting exclusively as financial adviser to Empyrean and no one else in connection with the matters described in this announcement. In connection with such matters, Macquarie Capital, its affiliates and their respective directors, officers, employees and agents will not regard any other person as their client, nor will they be responsible to any other person other than Empyrean for providing the protections afforded to clients of Macquarie Capital or for providing advice in connection with the matters described in this announcement or any matter referred to herein.

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise. The distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.

 

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