Petroceltic International PLC Appointment of Examiner (7169U)
April 11 2016 - 2:00AM
UK Regulatory
TIDMPCI
RNS Number : 7169U
Petroceltic International PLC
11 April 2016
Dublin
11 April 2016
Petroceltic International Plc
Appointment of Examiner
On 4 March 2016 Worldview EHS International Master Fund
presented a petition to the High Court of Ireland (the "Court") to
appoint an examiner to Petroceltic International plc, Petroceltic
Investments Limited and Petroceltic Ain Tsila Limited (together the
"Petition Companies") and to admit such companies to the protection
of the Court pursuant to the relevant provisions of the Companies
Act 2014 (the "Petition"). The full hearing of the Petition was
originally scheduled for 4 April 2016 and subsequently adjourned to
8 April 2016.
The Company today announces that the Petition was heard by the
Court and that the Court has approved the appointment of Michael
McAteer of Grant Thornton as Examiner to the Petition
Companies.
The Examination process facilitates parties who may have an
interest in investing in the Petition Companies and the Examiner
has prepared an Information Memorandum which will be made available
upon signature of an appropriate confidentiality agreement. It is
anticipated that best and final offers for the Petition Companies,
which must be accompanied by adequate proof of funding, will be
required to be made by early May.
The Examiner reserves the right to alter or terminate the
investment process and to accept or reject any investment offer at
any time. No warranties will be given as part of the sale
process.
Ends
For further information, please contact:
Michael Mc Ateer/Diarmuid Hannigan, Grant Thornton (Examiner) Tel: +353 (1) 680 5805
Brian O' Cathain /Tom Hickey, Petroceltic International Tel:
+353 (1) 421 8300
James Henderson / Rollo Crichton-Stuart, Bell Pottinger Tel: +44
(20) 3772 2500
Douglas Keatinge / Joe Heron, Murray Consultants Tel: +353 (1)
498 0300
John Frain / Roland French, Davy Tel: +353 (1) 679 6363
The Directors of Petroceltic International plc accept
responsibility for the information contained in this announcement.
To the best of their knowledge and belief (having taken all
reasonable care to ensure that such is the case), the information
contained in this announcement is in accordance with the facts and
does not omit anything likely to affect the import of such
information.
Notes to Editors:
Petroceltic International plc is a leading upstream oil and gas
exploration and production company, with licences in North Africa,
the Mediterranean and Black Sea regions, and listed on the London
Stock Exchange's AIM Market and the Irish Stock Exchange's ESM
Market. The Company has production, exploration and development
assets in Algeria, Egypt, Bulgaria and Italy.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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