Full and Final Settlement with United Oil and Gas
Rockhopper settles Abu Sennan dispute with United Oil and Gas through share issuance.
- Shares to be issued to Rockhopper by United 59,823,810 shares
- Price per share £0.001
Select text to share a quote on X · sign in to keep highlights & notes in your RKH notes
Rockhopper Exploration plc (AIM: RKH), the oil and gas company with key interests in the North Falkland Basin ("NFB"), is pleased to announce it has entered into an agreement with United Oil and Gas plc (AIM: UOG) ("United") to settle an outstanding balance related to the transfer of the Abu Sennan concession in Egypt to United.
As part of the settlement agreement, United will issue to Rockhopper 59,823,810 shares in United at a price of £0.001p per share, which is to take place within 14 business days. This settlement brings to a close all outstanding matters related to the Abu Sennan transaction.
Samuel Moody, CEO of Rockhopper, commented
"We are pleased to have reached this agreement with United, and we wish its Chief Executive Brian Larkin and the team all the best in their future endeavours."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.