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    Energean CEO Mathios Rigas sells 2.8% stake


    June 27, 2022 - Globes, Tel Aviv, Israel

     

      Jun. 26—Oil and gas exploration company Energean (LSE: ENOG; TASE: ENOG), which holds the Tanin and Karish gas reservoirs in Israel and has a market cap of NIS 9 billion, reports that its CEO Mathios Rigas has sold part of his holding in the company for NIS 230 million (pound55 million).

      Rigas sold 2.8% of Energean, reducing his stake to 8.5%. The shares were sold to financial institutions through Barak Capital and Bank of America at a discount of 5.6% on the market price. In the past year, Energean shares have yielded a return of some 50%.

      The company's announcement of the sale states, "Mr Rigas remains fully committed to the business and is confident in the outlook for Energean."

      Rigas said this year that Energean would invest $710-760 million in developing reservoirs and in exploration and production drilling, of which $450-500 million would be invested in Israel.

      Published by Globes, Israel business news — en.globes.co.il — on June 26, 2022.

      © Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

      ___

      (c)2022 the Globes (Tel Aviv, Israel)

      Visit the Globes (Tel Aviv, Israel) at www.globes.co.il/serveen/globes/nodeview.asp?fid=942

      Distributed by Tribune Content Agency, LLC.

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