Crown Energy has entered into an agreement to dispose of the majority of its up-stream oil and gas interests
INSIDE INFORMATION: Crown Energy AB ("Crown Energy" or the "Company") has today entered into an agreement under which it will dispose of (or grant pre-emption rights over) its up-stream oil and gas assets, excluding licensed operations in South Africa for consideration of up to US$450 million before deduction of transaction costs (the "Transaction").TERMS OF THE TRANSACTION Crown Energy has entered into an agreement dated 20 October 2021 under which the purchaser has the right to acquire (or pre-empt any sale of) Crown's up-stream oil and gas assets (except for operations in South Africa,