REG - Bowleven plc - Confirmation of Special Dividend Payment

BowlevenAnnouncement

08/02/2019 07:00

RNS Number : 4298P
Bowleven plc
08 February 2019
 


 
8 February 2019
 
 
Bowleven plc
("Bowleven" or the "Company")
Confirmation of Special Dividend Payment
 
Bowleven, the Africa focussed oil and gas company traded on AIM, is pleased to confirm the payment today of the special dividend of approximately £50 million, or 15 pence per ordinary share.
As previously announced, the upcoming Etinde work programme and budget has now been agreed amongst the upstream joint venture partners for 2019. The detailed effort will contribute towards the interpretation of the data and the development options for the block with a view to its commercialisation.
The dividend has today been paid to those shareholders on the register on 18th January 2019.
 
Eli Chahin, Bowleven CEO, commented:
"I'm delighted the Company is in a position to return this money to shareholders whilst continuing to offer significant future upside for investors as we work to reach FID on Etinde.
The management team's priority has always been maximising value for shareholders. The payment of this Special Dividend represents a major return of capital to investors, but also a statement of our commitment to ensuring the interests of the Company's owners are always at the forefront of the Board's considerations."
 
 




ENQUIRIES
 


 




For further information, please contact:


 




 


 




Bowleven plc


 




Eli Chahin, Chief Executive


00 44 131 524 5678




 


 




Celicourt Communications Ltd


 




Mark Antelme


00 44 207 520 9261




Henry Lerwill


 




 


 




Stockdale Securities Ltd (NOMAD and Broker)


 




Robert Finlay


00 44 207 601 6100




Antonio Bossi
 


 




 
Notes to Editors:
 
Bowleven is an African focused oil and gas exploration group, based in London and traded on AIM. Bowleven's vision is to maximise value for shareholders by realising the greatest value of the Group's Etinde asset, a relentless focus on capital discipline and ensuring that cash is wisely preserved to cover G&A costs and Etinde project development work. Bowleven holds equity interest in the Etinde blocks in Cameroon located offshore in shallow water (operated by NewAge).
 




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