Cub Energy has waived its right of first refusal to purchase Serinus' Ukraine interests. Serinus will receive total cash consideration of US$30 mm plus working capital and inter-company adjustments. The first US$13.5 mm has been released from escrow, and the final closing is expected to occur on or before February 8, 2016, after which the remaining funds will be released. The Company intends to use the proceeds from the sale for repayment of corporate debt and to help fund development of the Mof ....
01 Feb 2016
UPDATE ON CLOSING OF DIVESTMENT OF UKRAINE ASSETS
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UPDATE ON CLOSING OF DIVESTMENT OF UKRAINE ASSETS
Serinus Energy plc (SENX:LON) | 2.2 0 0.0% | Mkt Cap: 2.38m
- Published:
01 Feb 2016 -
Author:
Stephane Foucaud -
Pages:
2
Cub Energy has waived its right of first refusal to purchase Serinus' Ukraine interests. Serinus will receive total cash consideration of US$30 mm plus working capital and inter-company adjustments. The first US$13.5 mm has been released from escrow, and the final closing is expected to occur on or before February 8, 2016, after which the remaining funds will be released. The Company intends to use the proceeds from the sale for repayment of corporate debt and to help fund development of the Mof ....