16 May 2019 07:00
16 May 2019
Oracle Power PLC
("Oracle" or "the Company")
Update re Ceremonial Signing of MOU
Further to the announcement of 3 May 2019, Oracle Power PLC (AIM:ORCP), the UK energy developer of a combined lignite coal mine and mine mouth power plant located in the south-eastern Sindh Province of Pakistan (Thar Block VI), advises that it received confirmation on 14 May 2019 from Beijing Jingneng Power Company Limited ("Beijing Jingneng") that the Memorandum of Understanding ("MOU"), ceremonially signed on 27 April 2019 by representatives of Beijing Jingneng and PowerChina International Group Limited ("PowerChina") and Oracle, as announced on 29 April 2019, is only ceremonial and does not replace the Memorandum of Understanding announced on 27 March 2019 ("March MOU"). This is in addition to the clarification received from PowerChina on 2 May 2019.
As such, the Company and its partners consider that the March MOU remains valid.
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For further information please contact:
Oracle Power PLC Naheed Memon
| +44 (0) 203 580 4316 |
Strand Hanson Limited (Nominated Adviser) Rory Murphy, James Harris, Jack Botros
| +44 (0) 20 7409 3494 |
Brandon Hill Capital Limited Oliver Stansfield
| +44 (0)203 463 5000 |
Peterhouse Corporate Finance Charles Goodfellow
| +44 (0) 207 220 9791 |
Blytheweigh Tim Blythe, Camilla Horsfall, Megan Ray
| +44 (0) 207 138 3204 |
Oracle Power (ORCP)