Deltic Energy plc has agreed to sell its entire share capital for £6.9 million cash to Viaro Group’s subsidiary RockRose Energy. SELENE Viaro will also provide Deltic with a bridging loan of up to £2.7m to cover working capital before the acquisition becomes effective. Deltic has previously warned about “political and fiscal headwinds” hampering the […]
Tag: sale
FCM raises £520,000 and plans asset cash sale
First Class Metals plc has boosted its finances with a £520,000 fundraise and proposed cash sale of one of its properties in Northern Ontario, Canada. PROGRESS Chairman James Knowles said that the company had to act decisively following the withdrawal of the second stage investment from The Seventy Ninth Group, which is subject of Police […]
Parkmead completes sale of offshore assets
The Parkmead Group plc has completed the sale, announced in December 2024, of its offshore UK and onshore Netherlands exploration and production interests to Serica Energy (UK) Ltd. GROWTH The sold assets were held in the company’s subsidiary Parkmead (E&P) Ltd. The company said it had received £7.3 million cash and expects a further £7m […]
Star completes £6.3m sale of Alton terminal site
Star Energy Group plc has completed the £6.3 million sale of its non-core asset of the decommissioned oil terminal site at Holybourne in Alton, Hampshire. STRATEGY Proceeds will be used for the group’s general purposes including “deleveraging the business” and ongoing projects. The sale is part of Star’s strategy to streamline its operations and focus […]
Central Asia sells Copper Bay interest
Central Asia Metals plc has completed the sale of its 76.1% shareholding in Copper Bay Ltd, with mineral rights to a copper tailings project in Chile. DEVELOPMENT The company said that the purchase by Guardian Metals plc triggered compulsory ‘drag’ rights over the remaining 23.9% held by minority shareholders, also acquired by Guardian Metals. Central […]
Fulcrum to sell Tully gold project
Fulcrum Metals plc has signed a binding letter of intent to sell its 458-hectare Tully gold project in the Timmins mining district, Ontario. EXPOSURE Canadian purchaser Loyalist Exploration Ltd will pay CA$500,000 cash and issue 89,255,000 common shares to Fulcrum on completion of the transaction, representing 19.9% of its issued enlarged share capital. Fulcrum will […]