14 Dec 2017 14:00
14 December 2017
Phoenix Global Resources plc
("Phoenix" or the "Company")
Reduction of Capital
Further to the circular posted to Shareholders on 7 November 2017, the Board of Phoenix is pleased to announce that following the confirmation hearing in the High Court of Justice of England and Wales yesterday, the Reduction of Capital has become effective today.
Accordingly, the Deferred Share and the entire amount standing to the credit of the share premium account of the Company have been cancelled.
For further information, please contact:
Phoenix Global Resources plc | Anuj Sharma, CEO Philip Wolfe, CFO
| T: +54 11 5258 7500 T: +44 20 7839 4974 |
Stockdale Securities | Antonio Bossi Ed Thomas | T: +44 20 7601 6100 |
Panmure Gordon |
Adam James Atholl Tweedie |
T: +44 20 7886 2500 |
Camarco |
Billy Clegg Gordon Poole James Crothers |
T: +44 20 3757 4980 |
Capitalised terms used but not defined in this announcement have the same meaning as in the Circular published by the Company on 7 November 2017 and available on its website at www.phoenixglobalresources.com
About Phoenix
Phoenix Global Resources is a London Stock Exchange (AIM: PGR) and Buenos Aires Stock Exchange (BCBA: PGR) listed independent Argentina focused oil and gas exploration and production company. The Company has over 6.3 million licensed working interest acres in Argentina (of which over 5 million are operated), 61.7 million boe of working interest 2P reserves and average production of approximately 11,300 working interest boepd in 2016. Phoenix has significant exposure to the unconventional opportunity in Argentina through its 480,000 working interest acres with Vaca Muerta potential.
The Company's website is www.phoenixglobalresources.com.
PGR.L (PGR)