Navitas News30 Nov 2020 10:41
Todays announcement was yesterdays news...
"In October 2020, the partnership regarding an expected merger transaction between and Exploration Oil Premier was updated Premier, which operates the oil asset (hereinafter: "PMO,") and Limited Holdings Chrysaor, according to which
The latter will be merged into the PMO (hereinafter: "Chrysaor" and the "Merger", respectively).
For partnership from PMO, is expected to occur during the first quarter of 2021.
In November 2020, the partnership was informed that the approval of the PMO Debtors' Representation, the signing of documents
The final transaction will be subject to the approval of the merged entity management and that a decision on the matter will be made only after
Completion of the merger. In light of the merger and the schedules for its approval, the partnership concluded on November 27, 2020, with
Existing partners in the oil asset, that the binding exclusivity period will be extended until the earliest of: (i (30)
September 2021 (; ii) signature of the parties on binding transaction documents; iii) the decision of the partnership to terminate the negotiations regarding the deal. During this period, existing partners in the oil asset will be barred from subsistence
Commercial contacts with third parties regarding the sale of rights in the oil asset. To the best of the partnership's knowledge,
Based on information provided to it by the PMO, the merged entity is expected to have daily production capability
Of over 230,000 barrels per day, and is therefore expected to be among the largest producers traded in the British capital market"
https://ir.navitaspet.com/wp-content/uploads/2020/11/%D7%93%D7%95%D7%97-%D7%A8%D7%91%D7%A2%D7%95%D7%9F-3-%D7%9C%D7%A9%D7%A0%D7%AA-2020.pdf
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