AFR.L Regulatory News (AFR)

8 Apr 2008 07:01

Afren PLC08 April 2008 Afren plc ("the Company") Related Party Transaction Gasol Plc, of which Osman Shahenshah is a Non-Executive Director, todayannounced a Placing of 50,000,000 ordinary shares at 8 pence each. Afren willsubscribe for 9,379,100 Ordinary Shares in the Placing for a total considerationof £750,328. This investment is considered a related party transaction under theAIM Rules for Companies. The Directors of Afren, excluding Mr Shahenshah, havingconsulted with Jefferies International Limited, the Company's Nominated Advisor,consider the terms of the transaction to be fair and reasonable insofar as itsShareholders are concerned. 8th April 2008 Enquiries: Jefferies International LimitedToby HaywardOliver Griffiths+44 (0)20 7029 8000 Pelham Public RelationsJames Henderson+44 (0)20 7743 6673 This information is provided by RNS The company news service from the London Stock Exchange