14 Apr 2020 07:00
14 April 2020
Bahamas Petroleum Company plc
("Bahamas Petroleum" or the "Company")
Bahamas Fund Update
Further to the Company's announcement, on 13 March 2020, regarding the allotment of 35,337,328 ordinary shares (the "Fund Shares") to BPC Investment Fund Ltd (the "Fund"), admission to trading on AIM of the Fund Shares will not take place today as previously announced, as the Fund is yet to complete certain necessary administrative processes in The Bahamas. The Fund's ability to undertake this action has been significantly hampered and thus delayed by the State of Emergency declared and ongoing business disruption caused by the national response to the Covid-19 outbreak in The Bahamas. The expected admission date for the Fund Shares will be announced once timing for completion of the necessary administrative processes is known with certainty. The Company notes that, notwithstanding the delay in allotment, the subscription funds, amounting to approximately $0.9 million in respect of the Fund Shares, resides in the Mutual Fund Account.
For further information, please contact:
Bahamas Petroleum Company plc Simon Potter, Chief Executive Officer
| Tel: +44 (0) 1624 647 882 |
Strand Hanson Limited - Nomad Rory Murphy / James Spinney / Jack Botros
| Tel: +44 (0) 20 7409 3494 |
Shore Capital Stockbrokers Limited Jerry Keen / Toby Gibbs / James Thomas | Tel: +44 (0) 207 408 4090 |
CAMARCO Billy Clegg / James Crothers | Tel: +44 (0) 20 3757 4983 |
www.bpcplc.com
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.