Corporate update
Completed sale of MJF and South Yelemes structures for $88m in cash and cost reduction.
- Cash received to date $69.1m
- Remaining deferred consideration $18.9m
- Deferred cash instalments $5.1m
- Direct payment to Kazakh authorities $13.8m
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The Directors of Caspian Sunrise are pleased to confirm that the sale of the entity created to transfer the BNG shallow MJF and South Yelemes structures has completed, with the full $69.1 million due to date received.
Of the remaining $18.9 million, $5.1million is due to be received in 12 monthly instalments commencing in Q1 2026 and $13.8 million is due to be paid direct by the new owners of the MJF and South Yelemes structures to the Kazakh authorities reducing the Caspian Sunrise Group's historic costs obligations.
Publication of the 2024 audited accounts and resumption of trading
The board expects to publish the 2024 audited accounts in the next few weeks, following which the suspension of trading in the Company's shares is expected to be lifted.
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