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Nature Group Discussing Possible Maritime Division Sale, Shares Up

Thu, 15th Mar 2018 11:07

LONDON (Alliance News) - Shares in Nature Group PLC rose on Thursday as the firm said it had received indications of interest for the purchase of its Maritime division.

The stock was trading at 3.30 pence per share on Thursday, up 16%.

Nature Group said Wednesday last week it had secured a waiver from its lender which is conditional on the sale of the company's oil and gas business, and advanced talks with a preferred bidder on this front are ongoing.

Norwegian financial services group DNB granted the verbal waiver deferring the repayment of lease and debt financing facilities worth GBP1.0 million to the Oil & Gas business.

The company said last week the Oil & Gas division was still struggling, despite a pick-up in oil prices during 2017, and also said it would be moving its focus onto its Maritime division, and a strategic review has begun to yield positive results, it said. Rotterdam's operations improved financially towards the end of 2017, and this has continued into 2018.

However, the company said today it will progress discussions of a Maritime sale alongside those for its Oil & Gas arm.

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FTSE 100 - WINNERS
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Barclays, up 4.9%. Barclays has detailed plans to shrink its investment bank with a new round

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