Update on the disposal of MJF & South Yelemes
Disposal of MJF and South Yelemes structures extended to 28 February 2025, $14m of $88m received.
- Headline cash consideration $88 million
- Cash received to date $14 million
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On 20 November 2024 BNG Ltd LLP, the Group's wholly owned subsidiary, entered into a Sale & Purchase Agreement ("Agreement") with Absolute Resources LLP to sell the MJF and South Yelemes structures at the BNG Contract Area for a headline cash consideration of $88 million of which $14 million has already been received (the Disposal").
BNG Ltd LLP and Absolute Resources LLP continue to work towards completing the Disposal and have agreed to extend the 31 December 2024 Long Stop Date in the Agreement to 28 February 2025.
Further announcements in respect of the Disposal will be made in due course.
This announcement has been posted to:
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.