New City Energy Limited New City Energy Ltd : Announcement Of Proposed Winding-Up
14 Dezembro 2016 - 7:00AM
UK Regulatory
TIDMNCE
THIS ANNOUNCEMENT CONTAINS INFORMATION WHICH CONSTITUTES INSIDE
INFORMATION.
14 December 2016
New City Energy Limited ("NCE" or the "Company")
Announcement of Proposed Winding-Up
The Board of Directors has been reviewing, with NCE's investment manager,
the future prospects of the Company ahead of the next continuation vote.
Given the current market capitalisation of the Company, the prevailing
share price discount and the short to medium term outlook for the oil
price, the Board has decided that it would be in the best interests of
Shareholders to propose that the Company be wound up and that the
Company's surplus assets (after full provision for liquidation costs) be
distributed in cash to Shareholders.
A circular to Shareholders is being prepared to convene an extraordinary
general meeting of Shareholders to wind up the Company voluntarily. The
circular will set out in full detail the proposals. A further
announcement will be made in due course.
Enquiries:
Contact Telephone
Sue Inglis - Cantor Fitzgerald 020 7894 8016
Craig Cleland - New City Investment Managers 020 7201 5368
Lisa Neil - R&H Fund Services (Jersey) Limited 01534 825336
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: New City Energy Ltd via Globenewswire
(END) Dow Jones Newswires
December 14, 2016 04:00 ET (09:00 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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