3 Jun 2016 15:34
3 June 2016
Oracle Coalfields PLC
("Oracle" or "the Company")
STATEMENT REGARDING SHARE PRICE MOVEMENT
Oracle Coalfields PLC (AIM:ORCP), the UK energy developer of a combined lignite mineral resource and mine mouth power plant located in the Thar desert, in the south-east of Sindh Province, Pakistan, notes higher than normal level of trading activity in its shares. Oracle is pleased to announce that it has signed a Shareholder Framework Agreement subject to conditions precedent, whereby a consortium of new and existing Chinese partners will take 70% equity in its subsidiaries in Pakistan in order to advance the development of the project. A further announcement will be made in due course.
Ends
For further information:
Oracle Coalfields PLC Shahrukh Khan
| +44 (0)203 102 4807 |
Brandon Hill Capital Limited Oliver Stansfield
| +44 (0)203 463 5000 |
Peterhouse Corporate Finance Charles Goodfellow
| +44 (0)20 7220 9791 |
Grant Thornton UK LLP Salmaan Khawaja, Richard Tonthat, Daniel Bush
| +44 (0) 207 373 5100 |
Blythe Weigh Communications Tim Blythe, Camilla Horsfall, Megan Ray
| +44 (0) 207 138 3204 |
Fortbridge Consulting Matt Beale, Bill Kemmery
| +44 (0)7966 389196 |
Oracle Power (ORCP)