25 Sep 2018 07:00
Primorus Investments plc
("Primorus" or the "Company")
Completion of Disposal of Interest in HHDL to UKOG PLC
Further to the announcements of 20 and 30 August 2018, Primorus Investments plc (AIM: PRIM, NEX: PRIM) announces completion of the disposal of its 5% interest in Horse Hill Developments Limited ("HHDL") to UK Oil and Gas plc ("UKOG").
The conditions precedent to the Sale and Purchase Agreement ("SPA") have now been fulfilled and the Company will now receive £375,000 in cash and 63,644,030 UKOG shares in fulfilment of the share consideration. It is expected that the 63,644,030 UKOG shares will be admitted to trading on or around 28 September.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
The directors of Primorus accept responsibility for this announcement.
For further information, please contact:
Primorus Investments plc: | +44 (0) 20 7440 0640 |
Alastair Clayton | |
Nominated Adviser: | +44 (0) 20 7213 0880 |
Cairn Financial Advisers LLP | |
James Caithie / Sandy Jamieson / Richard Nash | |
Broker: | +44 (0) 20 3621 4120 |
Turner Pope Investments Limited | |
Andy Thacker |
Primorus Inv. (PRIM)
Uk Oil & Gas (UKOG)