Maurel et Prom : Partnership agreement with MP Nigeria
(Thomson Reuters ONE) -
Paris, 30 April 2013
No. 09-13
Partnership agreement with MP Nigeria
-
At its meeting on 27 March 2013, the Board of Directors of Maurel & Prom (MAU)
authorised a partnership to be set up with MP Nigeria (MPNG) and established its
guiding principles.
This partnership will take the form of a joint venture, with ?100 million
capital, one third owned by Maurel & Prom and two thirds by MP Nigeria.
Under the terms of this partnership (presented in further detail in section
1.5.1 of the 2012 Annual Report), new development projects would as a priority
be offered to this joint venture, which would handle their development, with
each of the two shareholder companies free to continue developing operations in
their traditional business sectors.
In this way, the new company would combine the renowned technical expertise of
Etablissements Maurel & Prom with the financial resources of MP Nigeria. Human
resources will also be made available to the joint venture by Maurel & Prom,
under the terms of a services agreement.
A partnership agreement will soon be concluded mainly to establish certain
restrictions on the transfer of the securities of the joint venture (in
particular, a reciprocal unilateral promise to sell (call) exercisable at any
time by either party on the shares held by the other party, upon decision of the
Board of Directors of either of the shareholding companies, at an exercise price
determined by an independent expert).
This partnership will be covered by a specific resolution to be approved at the
combined general meeting (ordinary and extraordinary) of the Company's
shareholders on 13 June 2013.
For more information, go to www.maureletprom.fr
Communication:
INFLUENCES
Phone: +33 1 42 72 46 76
Mail: communication(at)agence-influences.fr
This document may contain forward looking statements about Maurel & Prom's
financial position, income, activities and industrial strategy. By nature,
forward-looking statements contain risks and uncertainties to the extent that
they are based on events or circumstances that may or may not happen in the
future. These projections are based on assumptions we believe to be reasonable,
but which may prove to be incorrect and which depend on a number of risk factors
such as fluctuations in crude oil prices, changes in exchange rates,
uncertainties related to the valuation of our oil reserves, actual rates of oil
production and the related costs, operational problems, political stability,
legislative or regulatory reforms, or even wars, terrorism and sabotage.
Maurel & Prom is listed on Euronext Paris - Compartment A - CAC Mid 100 Index
ISIN FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA
PART_MAU-30APR13_ENG.pdf:
http://hugin.info/155421/R/1698262/559912.pdf
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other applicable laws; and
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originality of the information contained therein.
Source: Maurel et Prom via Thomson Reuters ONE
[HUG#1698262]
Unternehmensinformation / Kurzprofil:
Datum: 30.04.2013 - 22:38 Uhr
Sprache: Deutsch
News-ID 254822
Anzahl Zeichen: 4263
contact information:
Town:
Paris
Kategorie:
Business News
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