Statement Re Libya Oil Holdings
11 March 2011
The Company has reviewed the Council Regulation (EU) No 204/2011 of 2 March 2011 concerning restrictive measures in view of the situation in Libya and the Council Implementing Regulation (EU) No 233/2011 of 10 March 2011 (together the "Regulations").
Having taken legal advice, the Company considers that the ordinary shares that are beneficially held by LOH, representing 17.75 per cent. of the total issued share capital of the Company, are subject to the Regulations and are therefore effectively frozen. The Company has today informed LOH that it will not register any transfer in respect of the shares until further notice.
This action has no effect on the ongoing operations of the Company.
For further information contact:
Circle Oil Plc (+44 20 7638 9571)
Professor Chris Green, CEO
Evolution Securities (+44 20 7071 4300)
Rob Collins
Chris Sim
Neil Elliot
Fox-Davies Capital (+44 20 7936 5230)
Daniel Fox-Davies
Citigate Dewe Rogerson (+44 20 7638 9571)
Martin Jackson
George Cazenove
Murray Consultants (+353 1 498 0320)
Joe Murray
Joe Heron
Back to news list