Friday, Egdon Resources Plc (EDR.L) said it completed the acquisition of YCI Resources Ltd from the Heyco Energy Group.
As announced earlier, the consideration for the transaction is the issue to Heyco International, S.L. of 6.86 million ordinary shares in Egdon. Following acquisition, Heyco will hold 9.1% of the enlarged share capital of Egdon.
Further, the company has granted Heyco a Net Profit Interest on current and future production from licences PEDL069 and PEDL070. The Net Profit Interest, which is connected to oil price, will range between 5% and 10% of Egdon's net revenues realized from these licences after subtracting allowable costs.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.