Update - Bison Energy Services Limited ("Bison")
Paternoster has been informed that the listing of Bison, in which Paternoster has invested £171,000, will, at this stage, not be proceeding as envisaged. The Company understands, however, that Bison is currently actively pursuing alternative sources of financing in order to implement its strategy. We continue to believe that Bison is a good investment opportunity that provides the Company exposure to the growing North American fracking industry. Further updates will be provided as and when available.
Nicholas Lee, Chairman said
"It is disappointing that the IPO of Bison has not taken place, however, Bison owns an attractive asset and has access to a number of similar assets. Furthermore, we understand that Bison has a number of options open to it that could provide value to investors in due course."