LONDON (Alliance News) - Natural resources investment company Polo Resources Limited Friday said the strategic alternatives process being carried out at Signet, an African oil exploration company it has a 46.9% stake in, is progressing well.
Polo said the process has a high level of participation from a "broad spectrum of high quality potential bidders," but that the process is taking longer than anticipated.
The process, managed by First Energy Capital LLP and looking at strategic alternatives concerning Signet's African oil and gas asset portfolio, is contemplating a range of potential commercial outcomes at both the individual asset level and on a portfolio-wide basis
Polo also said following a review, its will only announce its net asset value twice each year with its annual and interim results.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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