4 Feb 2020 07:00
4 February 2020
Solo Oil plc
("Solo" or "the Company")
Proposed Transaction and Reverse Takeover Update
Solo (AIM: SOLO), the AIM investing company, targeting attractive production and development opportunities within the European gas market, announces that, further to the update provided by the Company on 20 December 2019, the Company remains in discussion with ONE Dyas with a view to renegotiating terms on the proposed transaction (the "Proposed Transaction") in order to enable the deal to proceed.
As part of the Proposed Transaction, the Board continues to assess all debt and equity funding options available to the Company.
Additionally, the Board continues to progress a number of complementary business development opportunities in line with its European gas strategy.
The Board reiterates that there can be no guarantees that the Proposed Transaction will proceed and intends to provide a further update to market as soon as possible.
For further information:
Solo Oil plc Tom Reynolds, CEO Doug Rycroft, COO Romina Mele-Cornish, CFO | +44 (0) 20 7440 0642 |
Strand Hanson Limited, Nominated Adviser & Broker James Spinney / Ritchie Balmer / Rory Murphy |
+44 (0) 20 7409 3494
|
Buchanan, Financial PR Ben Romney / Kelsey Traynor / James Husband |
+44 (0) 20 7466 5000
|
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation 596/2014.