Ruvuma Farm-Out Update

RNS Number : 2718N

Aminex PLC

19 May 2020

 

19 May 2020

Aminex plc

("Aminex" or "the Company")

Ruvuma Farm-Out Update

Further to recent updates on progress towards completion of the Ruvuma Farm-Out, the Company is pleased to announce that following payment by the Company's subsidiary of the capital gains tax bill, and payment by ARA Petroleum Tanzania Limited ("APT") of the stamp duty bill, the Tanzania Revenue Authority ("TRA") has issued the Tax Clearance Certificate to the Company. 

The Tax Clearance Certificate has now been submitted to the Tanzania Petroleum Development Corporation ("TPDC") to be forwarded to the Ministry of Energy. The Company has now completed all the requirements to allow the Minister to grant approval of the assignment of the 50% interest in the Ruvuma PSA to APT, the final remaining condition to completion of the Farm-Out.

Robert Ambrose, Chief Executive of Aminex commented:

"This is a major milestone. With the receipt of the Tax Clearance Certificate from the TRA and with the onward submission to the TPDC, Aminex has now accomplished all of the conditions within our control in order to complete the Ruvuma Farm-Out."

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No. 596/2014, and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

For further information:
Aminex PLC	[phone]
John Bell, Chairman  Robert Ambrose, CEO
Davy	[phone]
Brian Garrahy
Camarco	[phone]
Billy Clegg / James Crothers / Daniel Sherwen

 

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