REG - Wildcat Petroleum - Proposed Transaction and Suspension of Listing

Wildcat PetroleumAnnouncement

Mon 08:00

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RNS Number : 4173X  Wildcat Petroleum PLC  01 September 2025

1 September 2025

Wildcat Petroleum Plc

("Wildcat" or the "Company")

Proposed Transaction and Suspension of Listing

 

Wildcat Petroleum Plc ("WCAT" or "the Company") a company targeting investment
opportunities in businesses and assets within the upstream sector of the
petroleum industry is pleased to announce that it has signed a Memorandum of
Understanding with Wildcat Gold & Mining Trading & Multi Activities
Company Ltd ("WGMT") which sets out in principle the key terms for the
acquisition of the entire issued share capital of WGMT (the "Acquisition").
Once these terms are agreed and a legal binding sale and purchase agreement
has been signed a further announcement will be made with the final terms in
accordance with UKLR 13.4.22R and 13.4.23R.

 

Although the consideration payable by the Company to the shareholders of WGMT
has not yet been determined and is subject to legal and financial due
diligence, it is anticipated that it will be in the region of £500,000. In
conjunction with the acquisition, the Company will commence a substantial fund
raising ("Fund Raising") with institutional and strategic investors.

 

WGMT is wholly owned by Dr Omar Badawi Abu-elbashar (and his family), a senior
consultant to Wildcat. WGMT has no assets but is in advanced discussions to
develop two gold licences, one being the Nasb El Hussan prospect area in the
Nile State, which covers an area of 10003 Km2 and the other represents a part
of the Red Sea Region of Northeastern Sudan that covers 300 Km2. Both areas
are well known to be gold rich areas.

Should the Acquisition complete, it will constitute an Initial Transaction
under the UK Listing Rules and accordingly the Company would apply for its
shares to admitted to equity shares (commercial companies) listing category of
the Official List and trading on London Stock Exchange.

 

Therefore, at the request of the Company, the FCA has suspended the Company's
listing on the equity shares (shell companies) category of the Official List
and trading on the London Stock Exchange has also been suspended with effect
from 7.30am today pending publication of a prospectus providing further
information on WGMT and the Company as enlarged by the Acquisition and the
Fund Raising or an announcement that the Acquisition is not proceeding. Should
the Acquisition not proceed then the Company would need to apply for the
suspension be lifted and for trading to be restored.

 

There can be no certainty that the Acquisition will take place, and it remains
subject to, amongst other things, formal terms being agreed and the completion
of legal and financial due diligence.

 

A further announcement will be made in due course.

 

Enquiries:

 Wildcat                   groberts@wildcatpetroleum.co.uk

 Glyn Roberts
 Guild Financial Advisory

 Ross Andrews              ross.andrews@guildfin.co.uk (mailto:ross.andrews@guildfin.co.uk)

 

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