REG - Petroneft Resources - Company Update

Petroneft ResourcesAnnouncement

10/02/2023 15:45

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RNS Number : 6280P  Petroneft Resources PLC  10 February 2023

PetroNeft Resources plc

 

10 February 2023

 

PetroNeft Resources plc. ('PetroNeft' or 'the Company')

 

Company Update

Further to the announcement by the Company on 25(th) November 2022 of the
start of a strategic asset review, PetroNeft now announces that the Company
has received an expression of interest from Pavel Tetyakov (CEO of PetroNeft),
that may or may not lead to an offer being made to acquire the Company's
Russian assets.

The Company has now constituted an independent committee , to review any
offers and to consider all other viable options.  It will seek an independent
assessment of the fairness of any offer as part of its due process. The
members of the committee will include, Mr. Sacca, Mr. Jersing, Mr. Sturt and
Miss Shaftelskaya. Any sale of the Russian assets would be conditional on
shareholder and other applicable regulatory approvals.  There can be no
certainty that a sale will take place.

The Company will make further announcements in due course.

This announcement contains inside information within the meaning of the EU
Market Abuse Regulation 596/2014. Upon the publication of this announcement,
this inside information is now considered to be in the public domain.

 David Sturt, Executive Chairman, PetroNeft Resources plc            +353 1 647 0280
 Brian Garrahy/Ciara O'Mongain, Davy (NOMAD and Corporate Broker)    +353 1 679 6363
 Paul O'Kane, Murray Consultants                                     +353 1 498 0300

 

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