Holding(s) in Company
23 Februar 2009 - 8:00AM
UK Regulatory
TIDMCDS
RNS Number : 6957N
CDS Oil & Gas Group PLC
23 February 2009
CDS Oil & Gas Limited
126 Brompton Road
London
SW3 1JD
Tel: +44 20 7225 4383
Fax: +44 20 7589 8705
CDS Oil & Gas plc ("CDS" or the "Company")
Holdings in Company
CDS, the AIM quoted oil and gas explorer, is pleased to announce that the
Company's previous substantial shareholders, Feltown Assets Inc ("Feltown") and
Werton Finance SA ("Werton"), who remain committed to the development of CDS's
interests in Paraguay, have acquired from Petro Saudi Ltd Inc ("PetroSaudi"),
PetroSaudi's entire holding in the Ordinary Shares of the Company. The
acquisition was completed on 20th February 2009.
As a consequence, Feltown now holds 35,430,785 ordinary shares of 10p each of
CDS ("Ordinary Shares") (approximately 34.78% of the Company's issued share
capital) and Werton now holds 21,859,357 Ordinary Shares (approximately 21.45%).
PetroSaudi no longer has an interest in the Company's issued share capital.
Furthermore, Feltown and Werton have acquired jointly from PetroSaudi its rights
and obligations as lender in relation to two unsecured working capital
facilities granted to CDS in July 2008 for US$2,000,000 and in December 2008 for
US$250,000.
As the central management and control of CDS is outside of the UK, the Channel
Islands and the Isle of Man, the provisions of the UK Takeover Code do not apply
to the Company.
As previously announced, the Company will require additional funding in order to
complete its exploration programme. Although the discontinuation of the
relationship with PetroSaudi means the Company no longer has immediate access to
the funding of its further expansion, the new controlling shareholders are
already in active negotiations to cover its working capital requirements and to
secure the appropriate partnerships and alliances for continuing the Company's
activities in the Paraguayan oil and gas sector.
For further information:
CDS Oil & Gas Group Tel: +41 22 700 68 60
Patrice Roman, Chief Executive Officer
Hanson Westhouse Tel: +44 (0)20 7601 6100
Bill Staple / Richard Baty
UK Enquiries:
Hudson Sandler Tel: +44 (0)20 7796 4133
Jessica Rouleau / Fran Read
Other Enquiries
B4 Communication Tel: +41 22 592 50 22
Claude Baumann / Frédéric Jacquemoud
About CDS
CDS is a UK registered company which, through its Paraguayan subsidiary, CDS
Energy SA, has a 98.1% working interest in three large blocks with substantial
oil and gas exploration potential. These blocks are located in the prospective
eastward extension into north-west Paraguay of the productive Bolivian Chaco
Basin.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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