REG - Challenger Energy - Trinidad Sale Update

Challenger EnergyAnnouncement

01/07/2025 07:00

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RNS Number : 0743P  Challenger Energy Group PLC  01 July 2025

The information communicated within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No.
596/2014 as it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the
Company's obligations under Article 17 of MAR. Upon the publication of this
announcement, this inside information is now considered to be in the public
domain.

 

1 July 2025

Challenger Energy Group PLC

 Trinidad Sale Update

In February 2025 the Company entered into an agreement for the disposal of the
entirety of its operations in Trinidad and Tobago (refer to the Company's RNS
of 18 February 2025). The agreement contemplated the regulatory approval
necessary for closing of the sale being finalised by 30 April 2025. This date
was extended to 30 June 2025, due to the snap-election called in Trinidad and
Tobago in mid-March and the resulting change in Government.

The Company and the buyer have since made considerable progress in terms of
satisfying requirements for the necessary regulatory approval, albeit the
process has not fully finalised. The parties have thus agreed to further
extend the date for closing of the sale transaction to seven days after the
grant of regulatory approval, with a revised longstop date of 30 August 2025.

In anticipation of completion in the near-term, the Company and the buyer are
working collaboratively to ensure a smooth and efficient transfer of ownership
and operations once final regulatory approval is obtained.

For further information, please contact:

 

 Challenger Energy Group PLC                                  Tel: +44 (0) 1624 647 882

 Eytan Uliel, Chief Executive Officer
 Zeus - Nomad and Joint Broker                                Tel: +44 (0) 20 3829 5000

 Simon Johnson/Antonio Bossi/Darshan Patel/ George Duxberry
 Stifel - Joint Broker                                        Tel: +44 (0) 20 7710 7600

 Ashton Clanfield / Callum Stewart / Simon Mensley
 Gneiss Energy Limited - Financial Adviser                    Tel: +44 (0) 20 3983 9263

 Jon Fitzpatrick / Paul Weidman
 CAMARCO - Financial PR                                         Tel: +44 (0) 20 3757 4980

 Billy Clegg / Georgia Edmonds / Emily Hall
 Jonathan Paterson - Investor Relations                         Tel: +1 475 477 9401

 jonathan.paterson@harbor-access.com

 

 

Notes to Editors

 

Challenger Energy is an Atlantic-margin focused energy company, with a current
high-impact position in Uruguay, where the Company holds two offshore
exploration licences, totalling 19,000km(2) (gross) and is partnered with
Chevron on the AREA-OFF 1 block. Challenger Energy is quoted on the AIM market
of the London Stock Exchange and the OTCQB in the United States.

 

https://www.cegplc.com (https://www.cegplc.com/)

 

ENDS

 

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