12 Dec 2019 15:38
12 December 2019
Oracle Power PLC
("Oracle", the "Company" or the "Group")
Share Price movement
Oracle Power PLC (AIM:ORCP), the UK energy developer of a combined lignite coal mine and mine mouth power plant located in Block VI of the Thar desert in the south-east of the Sindh Province of Pakistan (the "Project") notes today's share price movement and an article published today in the Dawn newspaper in Pakistan and confirms that the Company is in negotiations with the private office of H.H. Sheik Ahmed Dalmook Juma Al Maktoum, a shareholder in the Company, and China Coal Energy Company to form a Joint Development Agreement in order to develop the Project.
Whilst the Company is hopeful that an agreement will be reached in the near future, there can be no guarantee that any such agreement will be entered into or as to the terms of such agreement.
A further announcement(s) will be made as appropriate.
For further information please contact:
Oracle Power PLC Naheed Memon
| +44 (0) 20 3580 4316 |
Strand Hanson Limited (Nominated Adviser) Rory Murphy, James Harris, Jack Botros
| +44 (0) 20 7409 3494 |
Brandon Hill Capital Limited (Joint Broker) Oliver Stansfield
| +44 (0) 20 3463 5000 |
Shard Capital (Joint Broker) Damon Heath
| +44 (0) 20 7186 9952 |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.
Oracle Power (ORCP)