Andalas Energy and Power Plc, the AIM listed Indonesian focused energy Company (AIM: ADL), notes the recent media speculation regarding the Company undertaking a significantly discounted equity fundraising in the short term.
Andalas confirms that it is currently in discussions with investors concerning a potential fundraising to fund its ongoing activities in Indonesia. The discussions are of a preliminary nature and the Company cannot guarantee that any such fundraising will take place in the short term. Pending the outcome of these discussions, the Company has requested a suspension in trading of its shares on the AIM Market. A further announcement will be made in due course as and when appropriate.
**ENDS**
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (‘MAR). Upon the publication of this announcement via a Regulatory Information Service (‘RIS’), this inside information is now considered to be in the public domain.
| For further information, please contact: David Whitby | Andalas Energy and Power Plc | Tel: +62 21 2783 2316 |
| Sarah WharryCraig Francis | Cantor Fitzgerald Europe(Nominated Adviser and Joint Broker) | Tel: +44 20 7894 7000 |
| Jon Belliss | Beaufort Securities Limited(Joint Broker) | Tel: +44 20 7382 8415 |
| Frank BuhagiarSusie Geliher | St Brides Partners Limited | Tel: +44 20 7236 1177 |