Potential Sale of E.A. Gibson Shipbrokers Limited

RNS Number : 3901B

Hunting PLC

06 January 2015

 



For Immediate Release

6 January 2015

Hunting PLC

("Hunting" or "the Company")

Potential Sale of E.A. Gibson Shipbrokers Limited

("Gibson")

Hunting PLC (LSE : HTG) notes the press commentary regarding a potential sale of its wholly owned subsidiary

E. A. Gibson Shipbrokers Ltd. Hunting confirms that discussions have commenced with the management of Gibson concerning the potential sale of the business to an Employee Benefit Trust established on behalf of Gibson employees.

The transaction is expected to complete by the 31 March 2015 and is conditional on a number of matters including the management of Gibson finalising structure and funding.

An update to the sale process will be provided at Hunting's 2014 Full Year Results, which are scheduled to be announced on Thursday 5 March 2015.

For further information please visit www.huntingplc.com or contact:

Hunting PLC Dennis Proctor, Chief Executive Peter Rose, Finance Director	Tel: [phone]
Buchanan Richard Darby Gabriella Clinkard	Tel: [phone]

Notes to Editors:

About Hunting PLC

Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has principal operations in Canada, China, Hong Kong, Indonesia, Mexico, Netherlands, Singapore, South Africa, Thailand, United Arab Emirates and the United States of America.

About E A Gibson Shipbrokers Ltd

Founded 1893, E A Gibson Shipbrokers is a market leading broker offering a complete range of shipping services. With offices located in London, Hong Kong, Singapore and Houston, it is one of the world's largest tanker broking teams, working across the crude oil, fuel and clean products markets. Gibson's specialised tankers and dry cargo teams trade bio fuels, veg oils, lube, chemicals, iron ore, coal, grain and other major bulk commodities. The business is also a major force in LPG, petrochemical and LNG shipping and has a world class research and market intelligence department.

 

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