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JKX Oil & Gas Shareholder Proxima Capital Sells Entire 20% Stake (ALLISS)

Thu, 16th Aug 2018 11:08

LONDON (Alliance News) - JKX Oil & Gas PLC said Thursday that Proxima Capital has sold its entire 19.97% shareholding in the company and consequently representatives of the shareholders have resigned from the board.

Proxima Capital has sold its 19.97% shareholding in JKX to Cascade Asset Management, a Grand Cayman based company controlled by Ukrainian lawmaker Vitalii Khomutynnik, the company said, adding that Proxima's representatives Vladimir Tatarchuk and Vladimir Rusinov have both resigned with immediate effect.

JKX has no current plans to replace Tatarchuk and Rusinov on its board.

Separately, the hydrocarbons explorer said that a hearing to consider one of the 2015 Poltava Petroleum Co rental fee claims has been further adjourned following the Poltava Circuit Administrative Court's request to obtain expert evidence on the lawfulness of tax notifications decisions.

The claim relates to additional tax liability and associated penalties of around USD2.4 million. No new date has been set down by the regional Ukrainian court for a resumption of proceedings, JKX said.

Shares in JKX were trading 0.9% higher at 30.26 pence each on Thursday morning.

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JKX Oil & Gas Shareholder Proxima Capital Sells Entire 20% Stake (ALLISS)

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