PUMA ZAMBIA TAKEOVER FINALISED

Puma Energy Ireland has finalised its 75 per cent acquisition of Puma Energy Zambia, formerly BP Zambia.

This follows the conclusion of 2010 share sale and purchase agreement for BP Africa, the previous holding company for BP Zambia.

According to a notice placed by Puma Energy Holdings, Ireland, the acquisition transaction was concluded on 1^st April 2011.

Puma Energy Ireland has since assumed controlling ownership in the Lusaka Stock Exchange-listed Puma Zambia.

The company has further announced the process of mandatory offer to minority shareholders in the local entity.

Details of the mandatory offer are yet to be announced.

Puma Energy Ireland’s acquisitions in the African petroleum market arise from BP Africa’s sale of its retail assets in Malawi, Botswana, Namibia, Tanzania and Zambia.