TIDMPIRI

RNS Number : 2563L

Pires Investments PLC

30 September 2016

Pires Investments Plc

("Pires" or the "Company")

Rame Energy Plc Disposal

The directors of Pires note the Rame Energy Plc ("Rame") announcement made on 26th September 2016 in respect of the planned disposal of its interests in Seawind Holding SpA and its operating subsidiaries in Chile.

Although this disposal significantly reduces the value of the Company's investment in Rame, the directors of Pires continue to review opportunities for investment that will restore and enhance shareholder value. An update will be provided in due course.

The directors of Pires believe that the Company has sufficient working capital for its current needs following the facility announced on 28 July 2016.

Enquiries:

 
 Pires Investments plc           Tel: 0207 580 7576 
  Peter Redmond, Director 
 Nominated Adviser               Tel: 020 7148 7900 
  Cairn Financial Advisers 
  LLP 
  Liam Murray / Tony Rawlinson 
 Broker                          Tel: 020 7469 0930 
 Peterhouse Corporate Finance 
  Limited 
 Duncan Vasey / Lucy Williams 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 30, 2016 02:00 ET (06:00 GMT)

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