Brief: Seabird Exploration: Update On Strategic Review

Sed Energy Holdings

30/06/2022 06:42

June 30 (Reuters) - SeaBird Exploration PLC  GEG.OL :
    * AN AGREEMENT WITH POTENTIAL BUYER, WITH ECONOMIC
CONSIDERATIONS
IN LINE WITH PREVIOUS GUIDANCE TO MARKET, HAS BEEN REACHED.
    * DUE TO EVENTS OUTSIDE OF BOTH PARTIES CONTROL NEGOTIATED
DEAL
HAS BEEN PUT ON HOLD.
    * IT IS CURRENTLY UNCLEAR TO COMPANY WHETHER DEAL WILL GO
THROUGH
OR NOT.
    * PERIOD OF EXCLUSIVITY HAS LAPSED AND COMPANY HAS RESTARTED
NEGOTIATIONS ALSO WITH OTHER SUITORS
    * THERE CAN BE NO ASSURANCE THAT ONGOING PROCESS WILL
MATERIALIZE
IN A TRANSACTION.

Source text for Eikon:  ID:nGNE5fKPH1 
Further company coverage:  GEG.OL 

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