International Oil and Gas Tech Ltd SR2020 Inc (7458X)
22 11월 2014 - 2:38AM
UK Regulatory
TIDMOGT
RNS Number : 7458X
International Oil and Gas Tech Ltd
21 November 2014
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN OR INTO THE
UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, THE
REPUBLIC OF IRELAND, JAPAN OR ANY JURISDICTION IN WHICH THE SAME
WOULD BE UNLAWFUL.
21 November 2014
International Oil and Gas Technology Limited
("IOGT" or the "Company")
SR2020 Inc
International Oil and Gas Technology Limited (LSE: OGT) ("the
Company") announces that OptaSense, Inc, of Houston, Texas
("Optasense"), a subsidiary of QinetiQ Group PLC (LSE:QQ), acquired
the seismic processing and imaging assets of SR2020, Inc
("SR2020"), a portfolio investment of the Company, on 20 November
2014. The consideration for the sale of the assets and service
capability includes cash consideration to SR2020, which will enable
SR2020 to pay certain debts due to third-party secured creditors,
and deferred consideration of up to US$1.0 million to the Company,
payable in one amount and based on an earn-out mechanism reflecting
revenues over the next twelve months.
- End -
For further information:
Investment Manager
Linton Capital LLP
David Sefton Tel: +44 (0) 20 3384 8090
dsefton@linton-capital.com
Corporate Broker
Numis Securities
Nathan Brown Tel: +44 (0) 20 7260 1426
n.brown@numis.com
Notes to editors:
International Oil and Gas Technology Limited
International Oil and Gas Technology Limited is an authorised
closed-ended investment company incorporated in Guernsey. The
Company was admitted to the Official List of the UK Listing
Authority and to trading on the London Stock Exchange on 7 January
2008. Its stock market EPIC is OGT.L.
Further information can be found at
www.international-ogt.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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