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You're reading: Renaissance Securities buys more shares in Regal Petroleum

Renaissance Securities Limited (Cyprus) since the start of the current week has additionally bought over a stake of over 2% of the shares in Britain's Regal Petroleum plc with assets in Ukraine, and its share in the Regal's statutory fund expanded from 11.17% to 13.36%.

According to a Regal report on the London Stock Exchange (LSE) issued on Wednesday, on January 10, 2011 Renaissance Securities bought 2.257 million shares at prices ranging from GBP 0.3644 from GBP 0.3721 per share, and on January 11 the company bought 4.724 million shares at prices of from GBP 0.3753 to GBP 0.3850.

Regal said that after the deals executed on Tuesday, Renaissance Securities Limited owns 42.529 million shares in the company.

As reported, in December 2010 Renaissance Securities bought around 11% of the shares in the oil company, and its share reached 11.56% or 26.817 million shares. In late 2010 and early 2011, Renaissance Securities realized a number of transactions with a small amount of Regal’s securities.

On Wednesday Regal’s shares were listed at GBP 0.2575 at 1530 London time, posting a 4.04% rise over the day.

Regal Petroleum says on its website that as of September 1, 2010, shareholders with more than 3% 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%.

Energees Management, which is controlled by Ukraine’s Smart Holding, has offered to buy Regal Petroleum plc for GBP 77 million. The Regal board of directors, members of which own 0.18% of the shares, backed this unanimously. Regal Petroleum said on December 10 that talks to sell the company for 24 pence per share were at their final stage.

The Cyprus-registered Heamoor Limited and Ukrainian oil and gas holding Geo Alliance, which is controlled by Viktor Pinchuk, said on December 13 that they were thinking of making a better offer to buy Regal than Smart Holding.

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