LONDON (Alliance News) - Afren PLC Monday reported an extension to the deadline by which SEPLAT Petroleum Development Company PLC must say whether or not it intends to make a firm offer for the FTSE 250 oil and gas company, allowing talks between the two London-listed companies to continue.
The extension to the deadline follows a preliminary approach made by Seplat for Afren earlier this month.
In a statement, Afren said the deadline has been extended to 1700 GMT on January 30, instead of the previous deadline of 1700 GMT on Monday, following a request from Seplat to the UK Takeover Panel.
The new deadline can be extended under takeover rules.
There can be no certainty that an offer will be made or as to the terms of any offer, Afren said.
Afren shares were down 8.4% at 27.21 pence on Monday, while SEPLAT shares were up 4.1% at 120.00 pence.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Seplat Energy (SEPL)