GP Petroleums Granted Authority for Joint Venture with West Coast Oils LLP

GP Petroleums Ltd has been granted authority to enter into a Joint Venture Agreement with West Coast Oils LLP. The Joint Venture will be formed by acquiring the share capital of an existing company, not a related party, rather than incorporating a new entity. Both partners will invest in the Joint Venture Company through a combination of equity share capital and unsecured loan. The Joint Venture aims to expand the footprint and market presence in the speciality and general bitumen sector, carrying on business as manufacturers, processors, refiners, makers, stockiest, traders and distributors of various types of specialty bitumen products.