The Russia-focusedminnow said the would-be buyer had offered 12.25 pence per issued ordinaryshare in Urals Energy, a two-thirds premium on Friday’s close of 7.5 pence andvaluing the company at around £19 million ($30.37 million).
The explorer’s shares traded up 20% at £0.09 on London’s AlternativeInvestments Market at midday on Monday in the wake of the offer announcement.
Urals Energy said the actual offer had yet to be received but that it would give due consideration to the eventual buyout proposal.
The
