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Further to the Company s announcement on 14 April, noting the announcement by CPI Property Group S.A. and Aroundtown SA of a firm intention to make a cash offer for the Company, the Company has formed an independent committee of the Board in order to evaluate the Offer.
19 April 2021
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Advance Energy (LON:ADV) completed an RTO on AIM indirectly acquiring of 50% of Carnarvon Petroleum Timor which holds a 100 per cent. working interest and is the contractor under the Buffalo PSC, offshore Timor-Leste. Carnarvon Petroleum Timor is a subsidiary of ASX listed company, Carnarvon Petroleum Limited. The net proceeds of the Placing of approximately £20.01m (approximately US$27.51m) will be used to fund the Acquisition. Due 19 April.
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