Helius Energy Plc Completion of disposal of interest in Helius CoRDe (7196J)
09 Aprile 2015 - 9:51AM
UK Regulatory
TIDMHEGY
RNS Number : 7196J
Helius Energy Plc
09 April 2015
Helius Energy plc
("Helius" or the "Company")
Completion of disposal of interest in Helius CoRDe Limited
Further to the announcement by the Company on 20 March 2015
regarding, amongst other things, the sale of its shareholding in
Helius CoRDe Limited to Leo Energy Limited (the "Sale"), Helius
announces that the Sale completed on 8 April 2015. The acquisition
proceeds of GBP12.3 million have been paid by Leo Energy
Limited.
The Board is exploring the best way to return available cash to
shareholders as soon as reasonably practicable and will endeavour
to return as much cash to shareholders as possible.
As was announced on 20 March 2015, the Board is currently aware
of the following factors which need to be taken into account when
determining the amount of cash to be returned to Shareholders:
-- retention amount held in escrow under the terms of the SPA: GBP1.23m;
-- professional fees relating to the Disposal: c.GBP0.3m;
-- existing creditors of the Company and expected operational
costs to the end of the retention period: GBP0.7m; and
-- contingency: GBP0.1m.
A further announcement on this will follow in due course.
For more information please contact:
Helius Energy plc
John Seed (Chairman)
William J. Ingram Hill (Chief Operating Officer)
Alan Lyons (Chief Financial Officer)
Numis Securities Ltd Tel: +44 (0) 20 7260 1000
Jamie Lillywhite (as Nominated Adviser)
James Black (as Corporate Broker)
Citigate Drewe Rogerson Tel: +44 (0) 20 7638 9571
Chris Gardner
Malcolm Robertson
This information is provided by RNS
The company news service from the London Stock Exchange
END
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