REG - Enwell Energy PLC - Statement in relation to Media Coverage

Enwell EnergyAnnouncement

11/10/2024 11:00

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RNS Number : 9000H  Enwell Energy PLC  11 October 2024

11 October 2024

Enwell Energy plc
("Enwell" or the "Company")

 

Statement in relation to Media Coverage of Restrictive Measures

Regarding Major Shareholder and Director

 

Enwell Energy plc (AIM: ENW), the AIM-quoted oil and gas exploration and
production group, notes recent media coverage regarding certain regulatory
actions within Ukraine in respect of a major indirect shareholder and a
Non-Executive Director of the Company.

 

The Company notes that a Decree of the President of Ukraine numbered 698/2024
and dated 8 October 2024 (the "Decree"), made pursuant to a resolution of the
National Security and Defence Council of Ukraine dated 8 October 2024,
entitled "On application of personal special economic and other restrictive
measures (sanctions)", was implemented, pursuant to which personal special
economic and other restrictive measures (sanctions) were applied to, inter
alia, Proteas Trustee Services Limited and Proteas Trustees Limited (as well
their respective shareholders Andreas Sophocleous and Konstantina
Alkiviadous), Elena Iona and Afrodite Loukiadou, who are trustees of Cypriot
Trusts that hold a major indirect shareholding interest in the Company, as
well as Alexey Pertin, who is a Non-Executive Director of the Company.

 

The Company is investigating this situation, and consulting with its legal and
other advisers as to whether and how the Decree could affect the Company.

 

The Company continues its normal commercial operations but will closely
monitor the situation and make further announcements in due course as
appropriate.

 

For further information, please contact:

 

 Enwell Energy plc                              Tel: 020 3427 3550
 Chuck Valceschini, Chairman
 Oleksiy Zayets, Interim CEO
 Bruce Burrows, Finance Director

 Strand Hanson Limited                          Tel: 020 7409 3494
 Rory Murphy / Matthew Chandler

 Zeus Capital Limited                           Tel: 020 7614 5900
 Alexandra Campbell-Harris (Corporate Finance)
 Simon Johnson (Corporate Broking)

 Citigate Dewe Rogerson                         Tel: 020 7638 9571
 Ellen Wilton / Alex Winch

 

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