PGR.L Regulatory News (PGR)

21 May 2007 07:30

Ragusa Capital PLC21 May 2007 Ragusa Capital Plc 21 May 2007 For immediate release Ragusa Capital Plc ("Ragusa" or "the Company") Proposed acquisition The Board of Ragusa announces that terms have been agreed to acquire certainutility assets as well as oil and gas exploration interests in South America. The acquisition is conditional, inter alia, upon the approval of theshareholders of Ragusa and compliance with other procedural and substantiveregulation governing the transaction applied under the AIM Rules and the CityCode on Takeovers and Mergers. The proposed transaction, if completed, will constitute a reverse takeover underthe AIM Rules, and, accordingly, at the request of the Company, dealings inRagusa's shares will be suspended with immediate effect pending the despatch toshareholders of a readmission document relating to the transaction and proposedenlarged group and convening the extraordinary general meeting of Ragusa toapprove the acquisition. For further information: Ragusa Capital Plc Tel: 020 7495 5326Lance O'NeillNigel Duxbury This information is provided by RNS The company news service from the London Stock Exchange