Potential Transaction Extension Update

RNS Number : 9633V

Curzon Energy PLC

12 August 2020

 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

12 August 2020

Curzon Energy Plc
("Curzon" or the "Company")

Potential Transaction Extension Update

Curzon Energy plc (LON:CZN) the London Stock Exchange listed oil and gas company, announces a further update regarding a potential transaction details of which were first announced on 18 March 2020 and more recently updated on 1 July 2020. 

The period of exclusivity originally entered into between Sun Seven Stars Investment Group ("SSSIG") and the Company has been extended until 1 September 2020 by the payment of £75,000 to be added to the existing one-year loan note carrying an annual interest rate of 10% per annum and convertible at the price of any subsequent share issue in the contemplated transaction.  SSSIG has the right to further extend this period through to 1 December 2020 by making additional payments. 

While the parties continue to work constructively towards a potential transaction, there can be no certainty that due diligence when complete will be compelling, nor to be able to predict the length of time required to reach definitive agreement or the likelihood of concluding a successful transaction. 

The Company will continue to update the markets on progress as appropriate. 

For further information please contact:
Curzon Energy Plc	[phone]
Scott Kaintz
www.curzonenergy.com
SP Angel Corporate Finance LLP	[phone]
Optiva Securities Limited	[phone]

 

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