Outstanding payment update

RNS Number : 5382L

Star Phoenix Group Ltd

30 April 2020

 

Star Phoenix Group Ltd

("Star Phoenix" or "the Company")

30 April 2020

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. 

OUTSTANDING PAYMENT UPDATE

Star Phoenix (AIM: STA), an international company with oilfield services business in Trinidad and oil and gas interest in Indonesia, advises that it has agreed to provide a payment extension to LandOcean Energy Services Co., Ltd. pursuant to the sale of Range Resources Trinidad Limited. The remaining cash consideration of US$1,000,000 (subject to an interest rate of 8% per annum calculated from 31 March 2020 until the payment is received) is now expected to be received on or before 15 May 2020.

This announcement has been approved by Chairman Kerry Gu on behalf of the Company.

Contact Details
Star Phoenix Group Ltd Evgenia Bezruchko (Group Corporate Development Manager & Joint Company Secretary) e. [e-mail] t.   [phone]	Cantor Fitzgerald Europe (Nominated Adviser and Broker) David Porter / Rick Thompson (Corporate Finance) t.   [phone]

 

END

 

 

MSCFLFSVSLIIVII