Cub Energy intends to take advantage of the priority right to buy 70% "Kub-Gas"
January 12, 2016
Company Cub Energy Inc. (USA), which owns 30% stake in LLC "Kub-Gas", intends to exercise the right of priority repurchase the remaining 70% of shares from Serinus Energy, the press service of Cub Energy. "We have been long-standing and reliable partners with Serinus, look forward to the completion of the share purchase Serinus in "Kub-Gas", - the press service quoted Mikhail majoritarian Cub Energy Afendikova.
At the same time Cub Energy states that the finalization of the transaction will require the negotiation and approval of the stock exchange, the antitrust authorities. In turn, in Serinus Energy noted that the agreement with other private buyer, which the company originally planned to sell its stake for $ 30 million, such wording was not. In addition, there are questions Serinus the financial ability to make a purchase Cub Energy.
"Given that the financial results of the Cub Energy for the III quarter. Point to a working capital deficit of more than $ 1 million, Serinus ask you to confirm the ability of LLC " Gaztek "to complete the purchase of shares", - summarized in Serinus. As reported, LLC "KUB-Gas" develops Olgovskaya, Makeyevka, North Makeyevka, Vergunskoe Krutogorivskoe and gas fields in the Lugansk region.
January 12th, 2016