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RNS Number : 6932R
RiverFort Global Opportunities PLC
31 October 2019
 

31 October 2019

RiverFort Global Opportunities plc

("RGO" or the "Company")

Investment update

The Company is pleased to announce that since its half year results to 30 June 2019, it has had a busy and exciting Q3 and start to Q4, having participated in a number of transactions during this period, deploying around £3.2 million of investment capital.  In particular, during this period the Company has participated in providing funding to:

-      Savannah Petroleum PLC, the British independent oil and gas company focused around activities in Niger and Nigeria with a current market capitalisation of around £222 million, by way of an unsecured loan facility, in order to provide the company with additional liquidity to fund working capital and general corporate purposes ahead of the planned completion of the Seven Energy transaction;

-      UK Oil & Gas plc, an AIM-listed oil and gas company with a current market capitalisation of around £75 million, by way of a convertible loan, to provide additional funding for its acquisition of an additional interest in its flagship Horse Hill asset;

-      Anglo African Oil & Gas plc, an AIM-listed independent oil and gas company with a current market capitalisation of around £12 million, by way of an investor sharing agreement, in order to part fund the Company's re-entry of the TLP-103C well at its Tilapia field in the Republic of the Congo with a view to producing oil from the Djeno horizon;

-      InfraStrata plc,  the UK quoted company focused on strategic infrastructure projects with a current market capitalisation of around £7 million, by way of an unsecured convertible loan, in order to provide a short term bridge facility in connection with its proposed acquisition of the principal assets of Harland and Wolff which comprises a multi-purpose fabrication facility, quaysides and docking facilities in the port of Belfast, Northern Ireland;

-      Angus Energy plc, the UK AIM quoted independent onshore oil and gas production and development company with a current market capitalisation of around £6 million, by way of a convertible loan note facility, in order to meet the additional cash requirements identified by the company's recent decommissioning review;

-      Ascent Resources plc, an AIM-listed independent oil and gas exploration and production company operating in the Petišovci gas project in Slovenia with a current market capitalisation of around £5 million, by way of a subscription for new shares, an equity sharing agreement and an investment agreement, in order to, to provide funding to build the company's reserves and production base in Slovenia.

A more detailed net asset value update for Q3 will be published in due course.

Phillip Haydn-Slater, Non-executive Chairman commented:

"We are experiencing high demand for our investment capital from exciting growth companies which cover a range of market capitalisations.  Going forward we very much expect this to continue."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For more information please contact:

RiverFort Global Opportunities plc


+44 20 3984 9191

Phillip Haydn-Slater, Non-executive Chairman






Nominated Adviser


+44 20 7628 3396

Beaumont Cornish



Roland Cornish/Felicity Geidt






Joint Broker


+44 20 7186 9950

Shard Capital Partners LLP



Damon Heath/ Erik Woolgar






Joint Broker


+44 20 7562 3351

Peterhouse Capital Limited



Lucy Williams



 

 


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: Riverfort Global Opportunities PLC

Price: 0.075

Market: AIM
Market Cap: £5.09 m
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