Dividend update for VPS shareholders

RNS Number : 7679B

Wentworth Resources PLC

12 October 2020

 

PRESS RELEASE      12 October 2020

WENTWORTH RESOURCES PLC
("Wentworth" or the "Company")

Dividend update for VPS shareholders

Wentworth (AIM: WEN), the AIM listed independent, Tanzania-focused natural gas production company is pleased to confirm that as per the Company's original RNS announcement dated 3 September 2020 shareholders on the VPS register will be paid the dividend on 23 October 2020 (the "VPS Payment Date").

The exchange rate, which was determined on the UK payment date, was GBP 1.00 : NOK 11.8394 and therefore the NOK sum per VPS share which will be paid to VPS Shareholders on the VPS Payment Date will be NOK 0.05683 per VPS share. 

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Enquiries:  Wentworth	Katherine Roe, Chief Executive Officer	[e-mail] [phone]
Stifel Nicolaus Europe Limited	AIM Nominated Adviser and Joint Broker  Callum Stewart Ashton Clanfield Simon Mensley	[phone]
Peel Hunt LLP	Joint Broker  Richard Crichton Alexander Allen	[phone]
FTI	Investor Relations Adviser  Sara Powell  Ben Brewerton	[phone]

 About Wentworth

Wentworth Resources plc (AIM-listed: WEN) is a leading, domestic natural gas producer in Tanzania with a core producing asset at Mnazi Bay in the onshore Rovuma Basin in Southern Tanzania.

The power demand base in-country is growing and with an ambitious universal energy access target set by the Government for 2030, Wentworth has a vital role to play in increasing access by ensuring a reliable, affordable and growing supply of natural gas into the local market.

 In 2019, Wentworth launched its dividend policy and remains committed to responsible growth that maintains returns for shareholders.

Inside Information

This announcement does not contain inside information.

Cautionary note regarding forward-looking statements

This press release may contain certain forward-looking information. The words "expect", "anticipate", believe", "estimate", "may", "will", "should", "intend", "forecast", "plan", and similar expressions are used to identify forward looking information.

The forward-looking statements contained in this press release are based on management's beliefs, estimates and opinions on the date the statements are made in light of management's experience, current conditions and expected future development in the areas in which Wentworth is currently active and other factors management believes are appropriate in the circumstances. Wentworth undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless required by applicable law.

Readers are cautioned not to place undue reliance on forward-looking information. By their nature, forward-looking statements are subject to numerous assumptions, risks and uncertainties that contribute to the possibility that the predicted outcome will not occur, including some of which are beyond Wentworth's control. These assumptions and risks include, but are not limited to: the risks associated with the oil and gas industry in general such as operational risks in exploration, development and production, delays or changes in plans with respect to exploration or development projects or capital expenditures, the imprecision of resource and reserve estimates, assumptions regarding the timing and costs relating to production and development as well as the availability and price of labour and equipment, volatility of and assumptions regarding commodity prices and exchange rates, marketing and transportation risks, environmental risks, competition, the ability to access sufficient capital from internal and external sources and changes in applicable law. Additionally, there are economic, political, social and other risks inherent in carrying on business in Tanzania. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements.

The payment of any dividend is subject to compliance with applicable laws and regulations, including the laws of Jersey and the Company's Articles of Association.  The Board will continually review the dividend policy from time to time and there can be no assurance that dividends will be paid in any particular amount for any given period.

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