San Leon Toscafund appoints Hannam & Partners to review San Leon
Toscafund Asset Management, which holds 59.52% of San Leon's issued share capital, has informed the energy firm that it is seeking the assistance of financial advisory firm Hannam & Partners. The London based company is to review Toscafund's strategic options, and has undertaken an exercise to inform a number of key parties on the assets and valuation of San Leon. 

San Leon Energy (LSE:SLE)

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San Leon Energy PLC

25 April 2017

25 April 2017

San Leon Energy plc

("San Leon" or the "Company")

Toscafund Asset Management LLP - Appointment of Financial Adviser

San Leon has been informed that Toscafund Asset Management LLP ("Toscafund"), which holds 59.52% of the issued share capital of San Leon, has informed the Company that it has appointed Hannam & Partners ("H&P") to conduct a review of the strategic options available to Toscafund. It understands that H&P has initiated an exercise to educate a small number of parties on the key assets and valuation of San Leon. This exercise had been conducted independently of SLE's board, management and advisers and was initiated more than three months after SLE's approach announcement.

Martin Hughes, Chief Executive Officer of Toscafund, commented: "Toscafund remains supportive of San Leon Energy and its management team. We understand that discussions continue between the board of San Leon and potential offerors and continue to encourage these discussions. This appointment is a function of Toscafund's ongoing commitment to securing optimal value for all shareholders of San Leon."

Oisin Fanning, Chief Executive Officer of San Leon, commented: "We note and welcome the involvement of Hannam & Partners as financial advisor to Toscafund."

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Directors' Responsibility Statement

The Directors of San Leon accept responsibility for the information contained in this announcement. To the best of their knowledge and belief (having taken all reasonable care to ensure such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.

Enquiries:

+ 353 1291 San Leon Energy plc 6292 Oisin Fanning, Chief Executive SP Angel Corporate Finance LLP +44 20 3470 (Nominated Adviser) 0470 Richard Morrison Richard Hail Soltan Tagiev Whitman Howard Limited (Financial +44 20 7659 adviser and Joint broker) 1234 Nick Lovering Francis North Brandon Hill Capital Limited (Joint +44 203 463 broker to the Company) 5000 Oliver Stansfield Jonathan Evans Hannam & Partners (Financial adviser +44 207 907 to Toscafund) 8500 Fergus Marcroft Sam Merlin Chris Byrne Vigo Communications (Financial +44 207 830 Public Relations) 9700 Chris McMahon Alexandra Roper +353 1 280 Plunkett Public Relations 7873 Sharon Plunkett

This information is provided by RNS

The company news service from the London Stock Exchange

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April 25, 2017 07:43 ET (11:43 GMT)