Petroceltic 's Response to Worldview Announcements

Petroceltic 's Response to Worldview Announcements

Petroceltic International plc (‘Petroceltic’ or ‘the Company’), the upstream oil and gas exploration, development and production company focused on the Middle East and North Africa (MENA), the Mediterranean and the Black Sea regions today responds to the announcements issued by Worldview Capital Management LLP (‘Worldview’) in relation to the proposed Placing by the Company to raise $100 million.
The Board of Petroceltic re-iterates that it considers the passing of the EGM Resolution and the completion of the Placing to be in the best interests of the Company and its Shareholders as a whole and will continue to seek to engage with Worldview in relation to the matters they have raised.
Petroceltic has always and will continue to uphold the interests of all its shareholders and the Board believes that these interests are best served by, inter alia, ensuring a diverse and balanced shareholder base, bringing new and valuable experience into the Company and maintaining high corporate governance standards.
Petroceltic strongly believes that the Placing is in the best interests of all shareholders and is a preferable alternative to its shareholders to that proposed by Worldview.
The Board of Petroceltic, whilst respecting the views of Worldview, believes that it should respond to a number of statements made in Worldview’s recent public announcements.
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