Rockhopper shareholders suggest sale

Add to My Stories Print page Add to Favourites

Rockhopper shareholders have suggested that the UK-listed oil exploration company should begin a sale process.

Speculation followed a meeting yesterday, March 21, between Rockhopper and shareholder Crispin Odey, whose Odey Asset Management holds a stake of more than 10% in Rockhopper.

Odey has publicly stated that he wants Rockhopper to return around half of the £178m (US$230m) received by the company for its 60% stake in the Sea Lion oil field to shareholders, either via a special dividend or a share buy-back.

The Times reports that Rockhopper prefers to use the cash to finance further drilling.

Rockhopper shares closed 9p up at 160p, valuing the company at £454m (US$689m).

You are using a Trial account

Thank you for trying Acquisitions Daily. You have read out of 2 articles.

If you want to read more than 2 articles, please contact us below to discuss a subscription.

Subscription Enquiry


If you are outside of the UK, please add your international dial code, e.g +33.