Asset Acquisitions and Disposals::Rex subsidiary increases interest in Cory Moruga Block in Trinidad & Tobago to 83.8 per cent

Issuer & Securities

Issuer/ Manager
REX INTERNATIONAL HOLDING LIMITED
Securities
REX INTERNATIONAL HOLDING LTD - SG2G04994999 - 5WH
Stapled Security
No

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
23-Feb-2015 17:34:01
Status
New
Announcement Sub Title
Rex subsidiary increases interest in Cory Moruga Block in Trinidad & Tobago to 83.8 per cent
Announcement Reference
SG150223OTHR28NI
Submitted By (Co./ Ind. Name)
Dan Brostrom
Designation
Executive Director and Chairman
Description (Please provide a detailed description of the event in the box below)
An indirect subsidiary of Rex International Holding has acquired all the issued and outstanding shares of Parex Resources (Trinidad) Limited ("Parex Trinidad"), whose main material asset is a 63.8 per cent working interest in the Cory Moruga Block in Trinidad & Tobago, for an aggregate consideration of US$1.5 million in cash and the working capital of Parex Trinidad as at 31 January 2015, amounting to approximately US$200,000. Pursuant to the completion of the acquisition, Rex International Holding's indirect working interest in the Cory Moruga Block has increased from 20 per cent to 83.8 per cent.

Please refer to the attachment.

Attachments

20150223_RIH_PressRelease_CoryMoruga.pdf
Total size =486K