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Oracle Power PLC - Share Price movement

RNS Number : 7315W
Oracle Power PLC
12 December 2019
 

12 December 2019

 

Oracle Power PLC

("Oracle", the "Company" or the "Group")

 

Share Price movement

 

Oracle Power PLC (AIM:ORCP), the UK energy developer of a combined lignite coal mine and mine mouth power plant located in Block VI of the Thar desert in the south-east of the Sindh Province of Pakistan (the "Project") notes today's share price movement and an article published today in the Dawn newspaper in Pakistan and confirms that the Company is in negotiations with the private office of H.H. Sheik Ahmed Dalmook Juma Al Maktoum, a shareholder in the Company, and China Coal Energy Company to form a Joint Development Agreement in order to develop the Project.

 

Whilst the Company is hopeful that an agreement will be reached in the near future, there can be no guarantee that any such agreement will be entered into or as to the terms of such agreement.

 

A further announcement(s) will be made as appropriate.

 

For further information please contact:

 

Oracle Power PLC

Naheed Memon

 

+44 (0) 20 3580 4316

Strand Hanson Limited (Nominated Adviser)

Rory Murphy, James Harris, Jack Botros

 

+44 (0) 20 7409 3494

Brandon Hill Capital Limited (Joint Broker)

Oliver Stansfield

 

+44 (0) 20 3463 5000

Shard Capital (Joint Broker)

Damon Heath

 

+44 (0) 20 7186 9952

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Oracle Power PLC

Price: 0.65

Market: AIM
Market Cap: £13.56 m
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Oracle Power CEO explains delay of LOI for Thar Block VI project plan

Oracle Power's (LON:ORCP) CEO Naheed Memon gives her response to the level of activity amongst investors surrounding the status of the 'Letter of Intent' for the Thar Block VI Project. Memon explains the LOI was applied for in March – shortly before the pandemic – and whilst Oracle originally...

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