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Exillon Energy PLC terminates formal sale process

Thursday, 5 Dec 2013 09:11am EST 

Exillon Energy PLC:Says, following the announcement from Sept. 18 to conduct a strategic review of the Company's options, including a potential sale of the Company, to be conducted under the framework of a formal sale process under the City Code on Takeovers and Mergers, it is terminating the formal sale process.Says this follows announcement by Seneal International Agency Ltd, a company ultimately controlled by Alexei Khotin who is the ultimate beneficial controller of the RusOil group, that RusOil group is reviewing potential opportunities, which include the possibility of making an offer for Exillon.Says it also follows the announcement by Hanberg Finance Limited, a company ultimately owned by Mikhail Gutseriev, that it is in the process of considering making an offer to acquire the shares in the company not already owned by Hanberg, the Company is.Says it continues to work on delivering an offer for the entire issued share capital of the company outside the framework of the formal sale process. 

Company Quote

3.5 +2.27%
4:50am EDT