Hurricane Energy today insisted it had the “continued support” of Kerogen despite the private-equity firm selling about a quarter of its shares in the UK exploration and production company.
London-listed Hurricane said Kerogen was still a major shareholder with a 16% interest and a nominated representative on its board.
Kerogen earlier announced the sale of 110 million ordinary shares at a price of 46.5p each.
Hurricane’s share price was down 5.39% to 47.78p as of 9:50am today.
More to follow.