At the request of Ophir, the Takeover Panel has consented to an extension of the deadline for Medco Global to either announce a firm intention to make an offer for Ophir or announce that it does not intend to make an offer for Ophir, until 5.00 pm on 31 January 2019. The parties are in advanced negotiations with a view to agreeing a recommended transaction at 55 pence per Ophir ordinary share in cash.
Ophir is pleased to announce the appointment of Dr. Adel Chaouch as an independent non-executive Director to the Company’s Board with immediate effect.
Ophir provides the following update on its trading and operations for the twelve month period ending 31 December 2018.
Rejection of the possible offer for Ophir by PT Medco Energi Global PTE Ltd (“Medco Global”) (a wholly-owned subsidiary of PT Medco Energi Internasional Tbk (“Medco”)).
Statement regarding the potential acquisition of Ophir by PT Medco Energi Global PTE Ltd (“Medco Global”) (a wholly-owned subsidiary of PT Medco Energi Internasional Tbk (“Medco”)).
Ophir announces that it has received notification from the Equatorial Guinea Ministry of Mines and Hydrocarbons that the Block R Licence, which contains the Fortuna gas discovery, will not be extended following expiry of the licence on 31 December 2018.