12 November 2024
This information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Star Energy Group plc
("Star Energy" or the "Company")
Sale of Non-core Asset
Star Energy (AIM:STAR) is pleased to announce that it has exchanged contracts for the sale of land at Alton, Hampshire to Pickerings Hire Limited for a cash consideration of £6.3m. The land was the location of the Company's now decommissioned Holybourne Oil Terminal and is not being used in any of the Group's operations. Completion of the sale is conditional on the satisfaction of planning conditions and the surrender of the site's environmental permit, a process that is underway and is anticipated to occur in the first half of 2025. The proceeds will be used for the general purposes of the Group.
For further information please contact:
| Star Energy Group plc Ross Glover, Chief Executive Officer Frances Ward, Chief Financial Officer |
Tel: +44 (0) 207 993 9899 |
| Zeus (Nominated Adviser & Broker) Antonio Bossi, Alexandra Campbell-Harris (Investment Banking) Simon Johnson (Corporate Broking) |
Tel: +44 (0) 203 829 5000 |
| Vigo Consulting Patrick d'Ancona, Finlay Thomson, Kendall Hill |
Tel: +44 (0) 207 597 5970 |