Contango Holdings plc (LSE:CGO) has received a non-binding proposal for the potential acquisition of its assets which may results in the sale of its assets at the subsidiary level (the "Proposal"). The Proposal is at an early stage with a number of commercial points under discussion, therefore, there is no guarantee that these discussions will lead to a formal offer. The Company is now in discussions with its advisers with regard to the Proposal and the Board will seek to maximise value for all its stakeholders before pursuing the disposal of its principal assets.

For the avoidance of doubt, the Company which has made the Proposal is different to the Multi-National undertaking the coking coal trial as noted below and with whom the Company is discussing a long-term offtake arrangement.