Green Energy Group (Seabird Exploration Plc): Update on strategic review
June 30 2022 - 1:00AM
Green Energy Group (Seabird Exploration Plc): Update on strategic
review
In reference to the 26 January press release stating that Green
Energy Group (SBX Plc, or “the Company”) had initiated a strategic
review, and the 28 April release stating that the Company had
entered into a LOI with exclusivity for a potential buyer of the
seismic business to conduct a due diligence over a certain period,
the Company today updates on the following:
- An agreement with the potential
buyer, with economic considerations in line with previous guidance
to the market, has been reached.
- Due to events outside of both
parties control the negotiated deal has been put on hold. It is
currently unclear to the Company whether the deal will go through
or not.
- The period of exclusivity has lapsed
and the Company has restarted negotiations also with other
suitors.
- There can be no assurance that the
ongoing process will materialize in a transaction. The Company will
update on any significant developments.
Contacts: Ståle Rodahl ,Executive Chairman, ph:+47 4840 0593
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