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.




Pires Investments plc

Peter Redmond, Director


Tel: 0207 580 7576


Nominated Adviser

Cairn Financial Advisers LLP

Liam Murray / Tony Rawlinson


Tel: 020 7148 7900



Tel: 020 7469 0930

Peterhouse Corporate Finance Limited

Duncan Vasey / Lucy Williams


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