Hurricane Energy plc’s sale to Prax Exploration & Production plc continues to progress following approval by the North Sea Energy Transition (NSTA).
COURT SANCTION
Hurricane announced on 4 May that the majority of shareholders had approved the sale and that on 24 May the National Security and Investment condition had been satisfied.
Today the company said that Prax had confirmed that the condition for oil and gas regulator had also been satisfied.
The transaction which also includes special dividends now awaits court sanction, scheduled for 7 June 2023 and delivery of a copy of the court order to the Registrar of Companies.
Hurricane expects the deal to become effective on 8 June 2023.