28 Feb 2018 10:00
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.
28 February 2018
CIP MERCHANT CAPITAL LIMITED
("CIP Merchant Capital" or the "Company")
Update on Saffron Energy Plc Investment
Further to its announcement of 22 January 2018, the Company notes the announcement this morning by Saffron Energy plc that it has made significant progress on a number of acquisitions in South East Asia that are consistent with its multi Tcf exploration gas strategy and that it has withdrawn, by mutual consent, from the acquisition of Po Valley Operations Limited from Po Valley Energy Limited ("Po Valley Acquisition").
Following Saffron Energy's withdrawal from the Po Valley Acquisition, the Company is contractually required to re-confirm its second subscription, as detailed in its announcement of 22 January 2018, and a further announcement will be made, as appropriate.
For further information, please contact:
Merchant Capital Manager Limited (Investment Manager) Marco Fumagalli Carlo Sgarbi
| +41 91 225 25 60 |
Strand Hanson Limited (Financial & Nominated Adviser and Broker) Richard Tulloch / James Bellman | +44 20 7409 3494 |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.