ACP Energy PLC (GB:ACPE) has released an update.
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ACP Energy PLC has indicated that its previously planned deal with Vinccler C.A. is now deemed very unlikely due to political instability in Latin America and the loss of a key funding partner. The company is now pursuing a new agreement with a Singaporean firm to acquire a royalty interest in a natural resources asset, which, if successful, would amount to a reverse takeover and require shareholder approval, additional fundraising, and re-listing on the AIM market of the London Stock Exchange.
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