Oracle Power PLC Ceremonial Signing of Memorandum of Understanding (3244X)
April 29 2019 - 2:02AM
UK Regulatory
TIDMORCP
RNS Number : 3244X
Oracle Power PLC
29 April 2019
29 April 2019
Oracle Power PLC
("Oracle" or "the Company")
Ceremonial Signing of Memorandum of Understanding
Oracle Power PLC (AIM:ORCP), the UK energy developer of a
combined lignite coal mine and mine mouth power plant located in
the south-eastern Sindh Province of Pakistan (Thar Block VI),
announces that as part of the China Belt and Road Summit held in
Beijing 27-28 April 2019, the Memorandum of Understanding ("MOU"),
agreed between Beijing Jingneng Power Company Limited ("BJPC") and
PowerChina International Group Limited ("Power China") and
announced on 27 March 2019, has been ceremonially signed by the
parties.
The ceremony took place as part of the Investment Conference of
the Belt and Road Summit and the MOU was signed by Song Dongsheng,
the President of Power China, Zhao Jianbo, the Deputy General
Manager of BJPC and Mark Steed, chairman of the board of Oracle.
The ceremony was overseen by Abdul Razak Dawood, advisor to the
Pakistani Prime Minister on Commerce, Textile Industries &
Production and Investment. This is re-signing for ceremonial
purposes and there have been no changes to the MOU as announced on
27 March 2019. Photographs of the signing will be placed on the
Company's website, www.oraclepower.co.uk.
Naheed Memon, CEO of Oracle, who was present at the ceremony
commented :
"Mark and I were delighted to take part in a ceremonial signing
of the MOU with our Chinese partners, a public way of demonstrating
their strong commitment to the project. Work in Pakistan continues,
particularly in the planning of predevelopment work. We will be
updating the market with an Operational Update shortly"
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
For further information please contact:
Oracle Power PLC +44 (0) 203 580
Naheed Memon 4316
Strand Hanson Limited (Nominated Adviser) +44 (0) 20 7409
Rory Murphy, James Harris, Jack Botros 3494
Brandon Hill Capital Limited +44 (0)203 463
Oliver Stansfield 5000
Peterhouse Corporate Finance +44 (0) 207 220
Charles Goodfellow 9791
Blytheweigh +44 (0) 207 138
Tim Blythe, Camilla Horsfall, Megan Ray 3204
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
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contact rns@lseg.com or visit www.rns.com.
END
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