(Alliance News) - Lamprell PLC on Friday confirmed that 19% shareholder Sami Al Angari is in the early stages of mulling a takeover offer for the company, alongside a funding package to support the repayment of Lamprell's existing debt facilities.
Also on Friday, shares in Lamprell were suspended with effect at the open as the United Arab Emirates-based provider of oil field services was unable to publish its 2021 results before the end of June.
The company expects to publish its annual results before the end of the third quarter of 2022, before which it will work with its auditors on finalising the results.
So far, Al Angari has made no approach or discussions with Lamprell regarding a potential offer. With his company, Al Gihaz Holding Co, Al Angari is required to either make a firm offer for Lamprell or pull out before 1700 SAT on July 29.
In addition, should Al Angari make an offer, the price per share must be at least 8.5 pence.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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