Mena has entered into non-binding negotiations on a potential sale or merger with arm's length publicly listed International oil and gas company with respect to its assets in
Consistent with its fiduciary duties and in consultation with its advisors, MENA is considering and evaluating the proposal. There can be no assurance that a formal offer or a transaction will result from this proposal.
Furthermore, the Company has determined that it will not proceed to obtain shareholder approval to consolidate its shares at this time and will not be proceeding as originally outlined in
This news release contains forward-looking information relating to the negotiations and the consolidation. Such forward looking information is subject to important risks, uncertainties and assumptions. The results or events predicated in this forward-looking information may differ materially from actual results or events. As a result, you are cautioned not to place undue reliance on these forward-looking information.
Forward looking-information is subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what is currently expected. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, the Company is under no obligation and does not undertake to update this information at any particular time, except as required by law.
FOR FURTHER INFORMATION PLEASE CONTACT:
MENA Hydrocarbons Inc. Magdy BassalyPresident and Chief Executive Officer +1(714) 713-6534 or Cell 2 01 222 101582 firstname.lastname@example.org MENA Hydrocarbons Inc. 5 Hassan Hafez StreetSaraia Elqoba, Cairo EgyptSource: MENA Hydrocarbons Inc.