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Beacon Energy extends exclusivity deadline as RTO effort continues

Stock Markets Nov 28, 2022 09:11
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Beacon Energy extends exclusivity deadline as RTO effort continues
 
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Proactive Investors - Beacon Energy PLC (LON:BCEB), formerly Advance Energy, told investors it has extended the period of exclusivity for an agreement that gives it the opportunity to acquire a European oil and gas company.

The company, in a statement, noted that the new deadline is set as 12 December 2022 extending from 28 November.

The identity of the potential acquisition has yet to be disclosed, meanwhile, the cash-shell investment company said “the parties continue to work diligently towards concluding a definitive agreement and will update the market accordingly.”

Beacon shares were temporarily suspended on 9 September after announcing the agreement which would constitute a reverse takeover (RTO) under AIM rules.

Earlier this month the company was renamed to “reflect its forward-looking objectives”.

Read more on Proactive Investors UK

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Beacon Energy extends exclusivity deadline as RTO effort continues
 

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