LONDON, UK: EnQuest Plc has completed the acquisition of a 26.69% non-operated equity interest in the Golden Eagle Area Development.
As the acquisition constitutes a reverse takeover under the Listing Rules, the admission of the Company’s ordinary shares to the premium listing segment of the Official List maintained by the Financial Conduct Authority (FCA) and to trading on London Stock Exchange main market for listed securities are required to be cancelled and then readmitted.
Amjad Bseisu, CEO of EnQuest, commented: “We are delighted to have completed the acquisition of a material interest in the high-quality, low-cost Golden Eagle development. As a highly cash generative asset, delivering material incremental production, reserves and resources, Golden Eagle is a great addition to our portfolio, further strengthening the Company.
“We look forward to a productive partnership with the operator, CNOOC and our joint venture partners, NEO Energy and ONE DYAS.”
Upon readmission to the LSE, the total issued share capital of the Company will be 1,885,924,339 Ordinary Shares and the total number of voting rights of the Company will be 1,885,924,339.
This figure may be used by Shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA’s Disclosure Guidance and Transparency Rules.