Star Energy Group Announces Sale of Non-core Asset

Source: www.gulfoilandgas.com 11/12/2024, Location: Europe

Star Energy (AIM:STAR) is pleased to announce that it has exchanged contracts for the sale of land at Alton, Hampshire to Pickerings Hire Limited for a cash consideration of £6.3m. The land was the location of the Company's now decommissioned Holybourne Oil Terminal and is not being used in any of the Group's operations. Completion of the sale is conditional on the satisfaction of planning conditions and the surrender of the site's environmental permit, a process that is underway and is anticipated to occur in the first half of 2025. The proceeds will be used for the general purposes of the Group.

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