Oracle Power Regulatory News (ORCP)

16 May 2019

Oracle Power PLC

("Oracle" or "the Company")

Update re Ceremonial Signing of MOU

Further to the announcement of 3 May 2019, Oracle Power PLC (AIM:ORCP), the UK energy developer of a combined lignite coal mine and mine mouth power plant located in the south-eastern Sindh Province of Pakistan (Thar Block VI), advises that it received confirmation on 14 May 2019 from Beijing Jingneng Power Company Limited ("Beijing Jingneng") that the Memorandum of Understanding ("MOU"), ceremonially signed on 27 April 2019 by representatives of Beijing Jingneng and PowerChina International Group Limited ("PowerChina") and Oracle, as announced on 29 April 2019, is only ceremonial and does not replace the Memorandum of Understanding announced on 27 March 2019 ("March MOU"). This is in addition to the clarification received from PowerChina on 2 May 2019.

As such, the Company and its partners consider that the March MOU remains valid. 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

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