REG - Star Energy Group - Sale of Non-core Asset

Star EnergyAnnouncement

12/11/2024 07:00

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RNS Number : 7919L  Star Energy Group PLC  12 November 2024

12 November 2024

 

This 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.

 

Star Energy Group plc

("Star Energy" or the "Company")

 

Sale of Non-core Asset

 

Star Energy (AIM:STAR) is pleased to announce that it has exchanged contracts
for the sale of land at Alton, Hampshire to Pickerings Hire Limited for a cash
consideration of £6.3m. The land was the location of the Company's now
decommissioned Holybourne Oil Terminal and is not being used in any of the
Group's operations. Completion of the sale is conditional on the satisfaction
of planning conditions and the surrender of the site's environmental permit, a
process that is underway and is anticipated to occur in the first half of
2025. The proceeds will be used for the general purposes of the Group.

 

 

For further information please contact:

 Star Energy Group plc                                           Tel: +44 (0) 207 993 (mailto:info@lifesafetechnologies.com) 9899

 Ross Glover, Chief Executive Officer

 Frances Ward, Chief Financial Officer

 Zeus (Nominated Adviser & Broker)                                Tel: +44 (0) 203 829 5000

 Antonio Bossi, Alexandra Campbell-Harris (Investment Banking)

 Simon Johnson (Corporate Broking)

 Vigo Consulting                                                 Tel: +44 (0) 207 597 5970

 Patrick d'Ancona, Finlay Thomson, Kendall Hill

 

 

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