Trinity Exploration tumbles as Centrica deal is terminated
Shares in Trinity Exploration & Production tumbled after the company said late on Monday that it has been unable to extend the term of its agreement to complete the purchase of 80% interests in two blocks offshore Trinidad from Centrica.
FTSE AIM All-Share
745.67
17:08 19/04/24
n/a
n/a
Trinity Exploration & Production
38.20p
16:55 19/04/24
-3.29%
-1.30p
As a result, the sale and purchase agreement between Trinity and two subsidiaries of Centrica has been terminated.
The deal with Centrica was made in July 2014 for $23m.
At 10:25, Trinity shares were down 26% at 8.50p.