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IN BRIEF: Scirocco completes "transformative" Ruvuma divestment
Scirocco Energy PLC - investing company targeting assets within the European sustainable energy and circular economy markets - Completes divestment of its 25% non-operated interest in the Ruvuma asset in Tanzania to ARA Petroleum Tanzania for USD2.5 million. The cash call loan facility provided by APT fully settles by completion, leaving Scirocco with no ongoing associated liabilities. "This is a transformative divestment for Scirocco and we are delighted to have reached this watershed moment for the company," says Chief Executive Officer Tom Reynolds. He adds that the receipt of the initial consideration puts the company on a solid financial footing to explore and evaluate opportunities in line with its strategic focus on energy, circular and vector sectors.
Current stock price: 0.55 pence, up 45% on Monday
12-month change: up from 0.21p on October 17, 2022
By Tom Budszus, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
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SCIR.L News
Scirocco Energy Adapts To Times With ESG Strategy And Board Changes
Scirocco Energy Adapts To Times With ESG Strategy And Board Changes
AIM WINNERS & LOSERS: Ormonde Falls Amid Issues With Congo Transaction
AIM WINNERS & LOSERS: Ormonde Falls Amid Issues With Congo Transaction
LONDON TRADING UPDATES: Alliance Pharma 2020 Revenue Slips By 5%
LONDON TRADING UPDATES: Alliance Pharma 2020 Revenue Slips By 5%
UK TRADING UPDATE SUMMARY: discoverIE Buys Limitor For EUR14.5 Million
UK TRADING UPDATE SUMMARY: discoverIE Buys Limitor For EUR14.5 Million
IN BRIEF: Aminex, Scirocco Note New Ruvuma Budget And Work Programme
IN BRIEF: Aminex, Scirocco Note New Ruvuma Budget And Work Programme
Attis And Scirocco Greet Helium One's GBP6 Million Plan For AIM IPO
Attis And Scirocco Greet Helium One's GBP6 Million Plan For AIM IPO
UK TRADING UPDATE SUMMARY: Beximco In Bangladesh Vaccine Supply Pact
UK TRADING UPDATE SUMMARY: Beximco In Bangladesh Vaccine Supply Pact
IN BRIEF: Aminex Completes Transfer Of 50% Interest In Ruvuma PSA
IN BRIEF: Aminex Completes Transfer Of 50% Interest In Ruvuma PSA
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