Increase in Shareholding of Majority Shareholder

RNS Number : 9645C

Regal Petroleum PLC

21 June 2019

 

21 June 2019

Regal Petroleum plc

("Regal" or the "Company")

Increase in Shareholding of Majority Shareholder

Regal Petroleum plc (AIM: RPT), the AIM-quoted oil and gas exploration and production group, notes the Form TR-1 shareholder notification published today from Pelidona Services Limited ("Pelidona") detailing an increase of its shareholding interest in the issued share capital of the Company from 173,128,587 ordinary shares (54.00%) to 264,996,769 ordinary shares (82.65%). Pelidona is 100% owned by Lovitia Investments Limited, which is 100% owned by Mr Vadym Novynskyi.

Separately to the Form TR-1 notification, the Company has been advised by Pelidona that the acquisition of these shares was undertaken to enable two substantial shareholders to dispose of their respective shareholdings in an orderly manner, and because Pelidona is optimistic about the future performance of the Company.

Pelidona further advised that, notwithstanding the acquisition of the additional shares, it does not intend to seek any changes to the governance and/or management of the Company, and in particular, it has no intention to seek any changes to the Company's status as a quoted company on the AIM Market of the London Stock Exchange ("AIM"). Pelidona also advised it has no current intention to acquire any additional shares in the Company.

Pelidona has confirmed that it remains committed to the long-term development and growth of the Company on AIM, which may also include a broadening of the Company's shareholder base in the future.

For further information, please contact:

Regal Petroleum plc	Tel: [phone]
Chris Hopkinson, Chairman Sergii Glazunov, Chief Executive Officer
Strand Hanson Limited	Tel: [phone]
Rory Murphy / Richard Tulloch
Citigate Dewe Rogerson	Tel: [phone]
Nick Hayns / Elizabeth Kittle

 

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