JKX shares rise on talk of Proxima Capital Group takeover


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Submitted by Paddy Harris on 5th February 2015

05th February 2015

Shares of JKX Oil & Gas have risen 57 per cent after midday today following the announcement that it is in talks with Proxima Capital Group

JKX is heavily involved in Ukrainian exploration and production and has been hit hard recently by the country's tax regime and sale restrictions

PCG has confirmed that it is currently in the very early stages of considering a potential offer for JKX Oil & Gas plc.

There can be no certainty that a firm offer will be made nor as to the terms on which any offer might be made.

PCG intends to approach the board of JKX Oil & Gas to discuss its proposals and must make a firm offer by 5 March.

JKX is heavily involved in Ukrainian exploration and production and has been hit hard recently by the country's tax regime and sale restrictions.

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