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You're reading: Regal Petroleum sells stake to Ukrainian investor

A managing partner of Ukraine's Investohills Investment Company, Andriy Volkov, has bought a 16.2% stake in Britain's Regal Petroleum plc with assets in Ukraine.

A Regal report on the London Stock Exchange (LSE) issued on Tuesday says that as a whole since early December 2010 Volkov bought 51.836 million shares at prices from GPB 0.1787 to GPB 0.2736 per share.

The price of Regal Petroleum’s shares on the LSE on Tuesday at the beginning of trading and by 1420 London time grew by 1.02%, to GBP 0.2475 per stock.

According to a Regal Petroleum posting on its Web site, as of September 1, 2010 the owners of over 3% shares in the company were Pope Asset Management – 6.69%, Capital Research and Management Company – 6.32%, Henderson Global Investors – 5.04%, Blackrock Investment Management – 4.92%, Safeguard Management Limited – 4.44%, SEB Asset Management – 4.26%, Ceska Sporitelna – 3.97% and Morgan Stanley Securities – 3.07%.

As reported, on 10 December 2010, Energees Investments Limited, the principal holding company of the Smart Holding Group, and Regal Petroleum plc with assets in Ukraine announced the terms of a recommended cash offer to be made by a wholly-owned subsidiary of Energees Investments, Energees Management Limited, to acquire the entire issued and to be issued share capital of Regal.

On 13 December 2010, Heamoor Limited and Ukrainian Geo Alliance holding, which are under control of Ukrainian businessman Viktor Pinchuk, announced that it was considering its options in connection with Regal, which might include a cash offer for Regal or some other business combination with Regal, although Heamoor noted that there could be no certainty that a formal offer would be forthcoming.

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