2024-06-17 17:46:14
Savannah Power PLC – an power firm targeted on a challenge in Africa – says its shares stay suspended on AIM, and promotes “varied work streams” associated to the completion of oil and gasoline property in South Sudan. She additionally says that she is engaged on publishing an entry doc on AIM within the third quarter of this yr. An extra replace on the progress of the transaction is anticipated inside the subsequent six weeks.
In December 2022, Savannah entered right into a share buy settlement with Petronas Worldwide Corp to amass the whole oil and gasoline operations of South Sudan for a complete consideration of 1.25 billion USD. Petronas is an oil and gasoline firm based mostly in Kuala Lumpur. The transaction is a reverse takeover, which resulted in Savannah’s shares being suspended from December 2022. The transaction consists of pursuits in 64 oil producing fields which have produced a mean of 153,200 barrels of oil per day in 2021.
Present share worth: Suspended. Final traded at 26.25 pence in December 2022.
By Sophie Rose, senior journalist at Alliance Information
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