Rockhopper Exploration PLC

M&A Activity • Feb 28, 2020

National Storage Mechanism | Additional information

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RNS Number : 4208E

Rockhopper Exploration plc

28 February 2020

28 February 2020

Rockhopper Exploration plc

("Rockhopper" or the "Company")

Completion of disposal of Rockhopper Egypt Pty Limited

Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with key interests in the North Falkland Basin, is pleased to announce that following satisfaction of the requisite conditions precedent, the disposal of Rockhopper Egypt Pty Limited to United Oil and Gas plc ("United") has now completed.

As previously announced, the US$16.0 million consideration payable to Rockhopper under the transaction comprises:

·    cash of $11.5 million; and

·  the issue of 114,503,817 Consideration Shares (at an issue price of 3 pence) representing approximately 18.5% of United's enlarged ordinary share capital.

Consideration Shares held by Rockhopper in United are subject to certain lock-up and orderly market disposal provisions for a period of up to 12 months from completion.

It is anticipated that Stewart MacDonald, Rockhopper's Chief Financial Officer, will be appointed as a non-executive director of United.

Hannam & Partners acted as financial adviser to Rockhopper in relation to this Transaction.

Enquiries:

Rockhopper Exploration plc

Sam Moody - Chief Executive Officer

Stewart MacDonald - Chief Financial Officer

Tel. +44 (0) 20 7390 0234 (via Vigo Communications)

Canaccord Genuity Limited (NOMAD and Joint Broker)

Henry Fitzgerald-O'Connor/James Asensio

Tel. +44 (0) 20 7523 8000

Peel Hunt LLP (Joint Broker)

Richard Crichton

Tel. +44 (0) 20 7418 8900

Vigo Communications

Patrick d'Ancona/Ben Simons

Tel. +44 (0) 20 7390 0234

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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