Brief: Wentworth Resources Says M&P Deal To Be Funded By £63 Mln Placed In Escrow

Wentworth Resources

07/12/2023 08:08

Dec 7 (Reuters) - Wentworth Resources PLC  WEN.L :
    * UPDATE ON ACQUISITION OF WENTWORTH RESOURCES PLC
    * SIGNED AN AGREEMENT THAT STRENGTHENS ITS EXISTING
LONG-TERM
PARTNERSHIP WITH TANZANIA PETROLEUM DEVELOPMENT CORPORATION
    * AGREEMENT AS A 'CALL OPTION' FOR TPDC, WHICH PROVIDES FOR
TPDC
TO INCREASE OWNERSHIP BY UP TO 20% IN PRODUCTION INTEREST
    * ACQUISITION SHALL BE FUNDED BY £63 MILLION PLACED IN
ESCROW AS
PART OF ACQUISITION ANNOUNCED ON 5 DECEMBER 2022

Source text for Eikon:  ID:nRSG9563Va 
Further company coverage:  WEN.L 

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