Trinidad Sale Update
Source: RNS
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
1 July 2025
Challenger Energy Group PLC
Trinidad Sale Update
In February 2025 the Company entered into an agreement for the disposal of the entirety of its operations in Trinidad and Tobago (refer to the Company's RNS of 18 February 2025). The agreement contemplated the regulatory approval necessary for closing of the sale being finalised by 30 April 2025. This date was extended to 30 June 2025, due to the snap-election called in Trinidad and Tobago in mid-March and the resulting change in Government.
The Company and the buyer have since made considerable progress in terms of satisfying requirements for the necessary regulatory approval, albeit the process has not fully finalised. The parties have thus agreed to further extend the date for closing of the sale transaction to seven days after the grant of regulatory approval, with a revised longstop date of 30 August 2025.
In anticipation of completion in the near-term, the Company and the buyer are working collaboratively to ensure a smooth and efficient transfer of ownership and operations once final regulatory approval is obtained.
For further information, please contact:
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Challenger Energy Group PLC Eytan Uliel, Chief Executive Officer |
Tel: +44 (0) 1624 647 882 |
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Zeus - Nomad and Joint Broker Simon Johnson/Antonio Bossi/Darshan Patel/ George Duxberry |
Tel: +44 (0) 20 3829 5000 |
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Stifel - Joint Broker Ashton Clanfield / Callum Stewart / Simon Mensley |
Tel: +44 (0) 20 7710 7600
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Gneiss Energy Limited - Financial Adviser Jon Fitzpatrick / Paul Weidman |
Tel: +44 (0) 20 3983 9263 |
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CAMARCO - Financial PR Billy Clegg / Georgia Edmonds / Emily Hall |
Tel: +44 (0) 20 3757 4980 |
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Jonathan Paterson - Investor Relations jonathan.paterson@harbor-access.com |
Tel: +1 475 477 9401 |
Notes to Editors
Challenger Energy is an Atlantic-margin focused energy company, with a current high-impact position in Uruguay, where the Company holds two offshore exploration licences, totalling 19,000km2 (gross) and is partnered with Chevron on the AREA-OFF 1 block. Challenger Energy is quoted on the AIM market of the London Stock Exchange and the OTCQB in the United States.
ENDS
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