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Vivo Energy (VVO)

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Wednesday 29 July, 2020

Vivo Energy

Update on Moroccan industry investigation

RNS Number : 5032U
Vivo Energy PLC
29 July 2020
 

 

 

29 July 2020

Vivo Energy plc

LSE:VVO / JSE:VVO

 

Update on Moroccan industry investigation

 

Vivo Energy notes that an independent commission has been formed to review the Conseil de la Concurrence, following receipt of allegations regarding its process and conduct in arriving at a recommended penalty of a fine of 8% of annual Moroccan turnover against the industry.

 

Vivo Energy welcomes the formation of the commission, as we believe that Vivo Energy Maroc has conducted its operations in accordance with applicable competition laws, rules and regulations at all times.

 

Ends

 

This announcement contains inside information, which is disclosed in accordance with the Market Abuse Regulation.

 

 

Notes to editors:

Media contacts:

Vivo Energy plc

Rob Foyle, Head of Communications

+44 7715 036 407

[email protected]

 

Tulchan Communications

Martin Robinson, Suniti Chauhan

+44 20 7353 4200

[email protected] 

 

 

Investor contact:

Vivo Energy plc

Giles Blackham, Head of Investor Relations

+44 20 3034 3735 / +44 7714 134 681

[email protected]

 

 

 

About Vivo Energy:

 

Vivo Energy operates and markets its products in countries across North, West, East and Southern Africa. The Group has a network of over 2,200 service stations in 23 countries operating under the Shell and Engen brands and exports lubricants to a number of other African countries. Its retail offering includes fuels, lubricants, card services, shops, restaurants and other non-fuel services. It provides fuels, lubricants and liquefied petroleum gas (LPG) to business customers across a range of sectors including marine, mining, construction, power, transport, wholesalers and manufacturing. The Company employs around 2,700 people and has access to over 1,000,000 cubic metres of fuel storage capacity and has a joint venture, Shell and Vivo Lubricants B.V., that sources, blends, packages and supplies Shell-branded lubricants.

For more information about Vivo Energy, please visit www.vivoenergy.com

 

Forward-looking statements

This announcement includes forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Company's control and all of which are based on the Directors' current beliefs and expectations about future events. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as: "believe", "expects", "may", "will", "could", "should", "shall", "risk", "intends", "estimates", "aims", "plans", "predicts", "continues", "assumes", "positioned", "anticipates" or "targets" or the negative thereof, other variations thereon or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this report and include statements regarding the intentions, beliefs or current expectations of the Directors or the Group concerning, among other things, the future results of operations, financial condition, prospects, growth, strategies of the Group and the industry in which it operates.

No assurance can be given that such future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing the Group. Such risks and uncertainties could cause actual results to vary materially from the future results indicated, expressed, or implied in such forward-looking statements.

Such forward-looking statements contained in this report speak only as of the date of this announcement. The Company and the Directors expressly disclaim any obligation or undertaking to update these forward-looking statements contained in the document to reflect any change in their expectations or any change in events, conditions, or circumstances on which such statements are based, unless required to do so by applicable law.

 


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