TXO PLC
20 October 2011
TXO PLC
("TXO" or the "Company")
ADDITIONAL INVESTMENT
TXO RECEIVES REPAYMENT OF LOAN TO GRAND BAHAMA GROUP AND ACQUIRES A FURTHER 4.3% SHAREHOLDING IN GRAND BAHAMA GROUP
The board of TXO Plc ("TXO" or "the Company") announces that it has received full repayment of the unsecured GBP112,500 loan made to the Grand Bahama Group Limited ("GBG" or the "Group").
The Company also announces that it has made an additional investment in the Group. The Company has purchased a further 43 Ordinary Shares in the share capital of the Group for an investment of GBP212,500, representing a further 4.3% shareholding. This further investment takes the number of ordinary shares held by TXO to 143 and a shareholding of 14.3% in the Group. Further information on the Group is set out in the announcement made on 30 June 2011.
In addition, Morgan Oil is expecting to receive a report on the recoverable reserves of the wells in Kentucky, USA and the board of Morgan Oil Marine are expecting further news on the Port Authority Licence in the Bahamas. Further announcements will be made in due course.
TXO Plc is also securing funding for the completion of the Empire Energy International investment.
For further information, please contact:
TXO PLC
Tim Baldwin, Chairman +44 (0) 771 287 2820
Beaumont Cornish Limited
Roland Cornish and James Biddle +44 (0) 20 7628 3396
This information is provided by RNS
The company news service from the London Stock Exchange
