IN BRIEF: Harbour Energy plans 20 to 1 share consolidation

Harbour Energy PLC - North Sea-focused oil and gas company - Says it will propose 20 to 1 share consolidation at upcoming annual general meeting, to be held on June 23.

Notes its "very large" share number following Premier Oil PLC's reverse takeover by Chrysaor Holdings Ltd - to create Harbour.

Says, after consolidation, number of shares in issue and the likely share price "will be more appropriate for a company of Harbour's size in the UK market".

Company changed its name to Harbour at the end of March after Premier and Chrysaor merger.

In October, Premier Oil agreed to merge with Harbour Energy's UK operating firm Chrysaor through a reverse takeover.

Premier shareholders hold a 5% stake in Harbour, with new shares going to Premier creditors at 18% and Chrysaor shareholders at 77%.

Current stock price: 20.55 pence, down 1.4% on Wednesday

Year-to-date change: up 4.6%

By Paul McGowan; paulmcgowan@alliancenews.com;

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