Source - RNS
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

Peter Redmond, Director

 

Tel: 0207 580 7576

 

Nominated Adviser

Cairn Financial Advisers LLP

Liam Murray / Tony Rawlinson

 

Tel: 020 7148 7900

 

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
 
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