Roxi Closes in on Eragon Petroleum
Roxi Petroleum reported that the work required to complete on the proposed acquisition of Eragon Petroleum plc is nearing completion.
The required regulatory approvals for the Eragon acquisition have been received from the Kazakh authorities. The Existing Ordinary Shares of the Company will resume trading on publication of the Admission Document which the Directors expect to take place later this month. Subject to shareholder approval, the shares to be issued in connection with the proposed Eragon acquisition will be admitted to trading following an Extraordinary General meeting which the Directors expect to be convened in February.
Rob Schoonbrood, CEO of Roxi Petroleum commented, "We look forward to completing the acquisition of Eragon and the readmission of the Company's shares. The faith shown in our acquisitive strategy by our Kazakh partners is extremely heartening – we look forward to repaying that trust as we continue to develop our portfolio of assets."