In February 2025, Challenger Energy Group Plc (LON:CEG) entered into an agreement for the disposal of the entirety of its operations in Trinidad and Tobago (refer to the Company’s RNS of 18 February 2025). The agreement contemplated the regulatory approval necessary for closing of the sale being finalised by 30 April 2025. This date was extended to 30 June 2025, due to the snap-election called in Trinidad and Tobago in mid-March and the resulting change in Government.
Challenger Energy and the buyer have since made considerable progress in terms of satisfying requirements for the necessary regulatory approval, albeit the process has not fully finalised. The parties have thus agreed to further extend the date for closing of the sale transaction to seven days after the grant of regulatory approval, with a revised longstop date of 30 August 2025.
In anticipation of completion in the near-term, the Company and the buyer are working collaboratively to ensure a smooth and efficient transfer of ownership and operations once final regulatory approval is obtained.
