Brief: Advance Energy Confirms Entering Non-Binding Heads Of TermsWith Majority Owner Of A European Oil And Gas Firm

Beacon Energy

09/09/2022 13:39

Sept 9 (Reuters) - Advance Energy PLC  ADVAD.L :
    * ADVANCE ENERGY PLC  - STATEMENT REGARDING RECENT PRICE
MOVEMENT
    * ADVANCE ENERGY PLC - COMPANY HAS BEEN ACTIVELY ASSESSING A
NUMBER OF LIVE, VALUE-ACCRETIVE BUSINESS DEVELOPMENT
OPPORTUNITIES
    * ADVANCE ENERGY PLC - CONFIRMS THAT IT HAS ENTERED INTO A
NON-BINDING HEADS OF TERMS ("HOT) WITH MAJORITY OWNER OF A
EUROPEAN OIL AND GAS COMPANY
    * ADVANCE ENERGY PLC - COMPANY'S SHARES WERE TEMPORARILY
SUSPENDED
FROM TRADING ON AIM ON MORNING OF SEPT 9
    * ADVANCE ENERGY - WITH INTENTION OF CO COMPLETING AN
ACQUISITION
OF EUROPEAN CO FOR A COMBINATION OF NEW SHARES IN ADVANCE, AN
EARN OUT BASED ON OIL PRODUCTION
    * ADVANCE ENERGY PLC - IF POTENTIAL ACQUISITION DOES NOT
PROCEED,
IT IS EXPECTED THAT TEMPORARY SUSPENSION IN COMPANY'S SHARES
WOULD BE LIFTED

Source text for Eikon:  ID:nRSI9785Ya 
Further company coverage:  ADVAD.L 

 ((Reuters.Briefs@thomsonreuters.com;))