Transaction
Timetable

Serica and BP announced Serica’s intention to acquire BP’s interests in the Bruce, Keith and Rhum package of assets on 21 November 2017. The deal is expected to completed in mid-2018.

Announcement

21 Nov 2017

  • Announced on 21 November 2017
  • Shares suspended on AIM market pending release of Admission Document as the acquisition is classified as a reverse takeover under AIM Rules
  • BP Employees, partners and other stakeholders notified

Completion

Mid 2018

  • Serica becomes operator of the Bruce, Keith and Rhum fields
  • BP employees transferred to Serica under full TUPE terms
  • Completion consideration paid net of working capital and interim period adjustments