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Cadogan Petroleum agrees US$1.2mln AstroInvest sale

The junior market oil and gas firm is selling another set of legacy assets and it confirmed boardroom changes after Friday's AGM.

Cadogan Petroleum Plc - Cadogan Petroleum agrees US$1.2mln AstroInvest sale
US$4mln worth of deals have been struck in recent weeks

Cadogan Petroleum Plc (LON:CAD), on Friday, revealed that it has agreed to sell its wholly owned subsidiary AstroInvest Ukraine LLC for US$1.2mln.

The company highlights that this latest deals means it has agreed to sell up to US$4mln in recent weeks.

READ: Cadogan agrees US$2.8mln Gazvydobuvannya sale

In a separate statement, following Friday’s general meeting, the company confirmed that Fady Khallouf will succeed Guido Michelotti as the company’s chief executive.

Additionally, Lilia Jolibois and Jacques Mahaux have also been appointed to the board as directors.

Adelmo Schenato and Enrico Testa have been removed as directors of the company, and Zev Furst has tendered his resignation with effect from 13 December.

Quick facts: Cadogan Petroleum PLC

Price: 2.75 GBX

LSE:CAD
Market: LSE
Market Cap: £6.71 m
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