REG - ACP Energy PLC - Update on Proposed Transaction

Acp EnergyAnnouncement

26/10/2023 17:15

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RNS Number : 4572R  ACP Energy PLC  26 October 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (596/2014/EU) AS THE SAME HAS BEEN RETAINED IN UK
LAW AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019 (SI
2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. NOT FOR RELEASE,
PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN,
INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF
THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

ACP Energy PLC

("ACP" or the "Company")

Update on Proposed Transaction by ACP to acquire oil and gas interests in
Ecuador

Withdrawal of Voluntary Cancellation Request of Listing on the Official List

Concert Party Disclosure

Further to its announcement of 28 September 2023, the Company announces the
following update concerning the proposed transaction to acquire certain oil
and gas interests in Ecuador (the "Proposed Transaction").

The Company continues to progress the Proposed Transaction albeit has
experienced certain delays to the anticipated timescale, which means the
proposed admission of the Company's enlarged issued share capital to trading
on AIM ("Admission") will no longer become effective on 27 October 2023.

Withdrawal of Voluntary Cancellation Request

ACP previously announced that it had applied to the Financial Conduct
Authority ("FCA") and London Stock Exchange plc ("LSE") to effect a
cancellation of its Ordinary Shares from listing on the standard segment of
the FCA's Official List and to trading on the main market for listed
securities of the LSE (the "Cancellation") to become effective at 8:00 a.m. on
27 October 2023. The Company today withdrew its request to the FCA for the
Cancellation pursuant to Listing Rule 5.3.7 to allow it additional time to
conclude the Proposed Transaction. Whilst the Company has not yet finalised a
revised date to complete the Proposed Transaction, it anticipates doing so by
no later than 29 December 2023.

The Cancellation will no longer become effective on 27 October 2023 albeit the
Company's shares will remain suspended. The Company will make a further
announcement in due course.

For further information: www.acpenergyplc.com

ACP Energy

Paul Welch, Executive Chairman
+44 207 193 2376 / stacey@acpenergyplc.com

 

Celicourt Communications

Mark Antelme / Jimmy Lea
                                +44 207 770
6424 / acpenergy@celicourt.uk

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