KEYFACT Energy
Serica Energy has repoted an excellent turnout at their EGM where shareholders gave a strong vote of confidence for the proposed acquisition of Tailwind.
Serica CEO Mitch Flegg commented:
"This is a milestone for our company which provides a significant increase in production, reserves and short-cycle growth opportunities, increasing our scale and technical diversity whilst maintaining financial strength, retaining a net cash position at completion with strong ongoing cashflows thereafter. This financial strength will allow Serica to continue its programme of returns to shareholders whilst supporting an ongoing campaign of M&A and organic investments."
KeyFacts Energy: Serica Energy UK country profile