Jupiter Energy Ltd Notice of Cancellation of AIM Listing (2774M)
31 Julho 2017 - 3:00AM
UK Regulatory
TIDMJPRL
RNS Number : 2774M
Jupiter Energy Ltd
31 July 2017
31 July 2017
Jupiter Energy Limited ("Jupiter" or the "Company")
Notice of Cancellation of AIM Listing
The Company was originally dual listed on the AIM market of the
London Stock Exchange in 2011 as a means of accessing capital from
the UK and European equity markets. The Board have reviewed the
Company's AIM listing and concluded that these benefits of listing
have not been realised, due to a range of reasons. Given the
Company's shareholder base is predominantly Australian, the
relatively low volume of trading in shares on AIM and the Company's
current cash position, the Board has concluded that the costs
incurred in maintaining a secondary listing on AIM, exceeds the
benefits obtained from the listing. On this basis, the Board
considers it in the best interests of the Company and all
shareholders to seek a cancellation of its depository interests
("DIs") over ordinary shares ("Ordinary Shares") from trading on
AIM (the "Cancellation").
The Cancellation is not subject to shareholder approval however
the Board has discussed this issue with Jupiter's three major
shareholders being Waterford Petroleum Limited, Arrow Business
Limited and Central Asian Oil Holdings Limited and each entity has
given their unequivocal support in respect of the Cancellation. As
a result the Company will proceed with the Cancellation, therefore
the last trading day in DIs on AIM will be 25 August 2017 and
cancellation will be effective at 7.00 a.m. on 29 August 2017 (the
"Cancellation Date"). Following the cancellation of admission of
the Company's Ordinary Shares on AIM, the DIs which have been
trading on AIM will be cancelled and holding statements will be
issued to current DI holders.
The Company will continue to maintain its listing on the
Australian Stock Exchange (ASX) and shareholders wishing to trade
the Company's Ordinary Shares after the Cancellation Date will be
able to do so on the ASX.
The Company has made arrangements with a UK and Australian
Broker to facilitate the execution of trades of Jupiter shares on
the ASX, thus ensuring that UK shareholders are not materially
prejudiced as a result of the Cancellation.
Contact details are as follows:
Beaufort Securities Ltd Euroz Securities Limited
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Attn: Matthew Giles Attn: Cameron Murray
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Phone: +44 20 7382 8314 Phone: +61 8 9488 1440
-------------------------------------------- -------------------------
Email: matthew.giles@beaufortsecurities.com Email: cmurray@euroz.com
-------------------------------------------- -------------------------
Computershare, as the Company's registrar, will shortly be
writing to each DI holder on the UK register to advise them of the
process in more detail.
If DI holders do nothing with their existing holdings, the
transfer to the Australian register will happen automatically. Your
shareholding interest in the Company will be transferred to the
Australian based share register maintained by Computershare and an
updated holding statement will be issued to you in due course.
If shareholders have any questions regarding this they are
welcome to contact the Company on +61 89 322 8222.
Geoff Gander
Chairman/CEO
ENDS
finnCap Ltd +44 (0)20 7220 0500
Matt Goode/ Emily Watts/Anthony Adams (Corporate Finance)
Simon Johnson (Corporate Broking)
About the Company:
Jupiter Energy Limited is an oil exploration and production
company, quoted on the AIM, ASX and KASE markets. The Company is
focused on developing its onshore assets in western Kazakhstan. In
2008 the Company acquired 100 per cent of the Block 31 permit,
located in the oil-rich Mangistau Basin, close to the port city of
Aktau.
Jupiter has a proven in-country management team, led by an
experienced, international Board, together possessing the skills,
knowledge, network and attention to detail needed to operate
successfully in Kazakhstan. The forward plan will see Jupiter
develop a group production facility on Block 31 to process, store
and export oil. This topside infrastructure is a key element in
moving to long-term production and the achievement of self-funding
for further development of Block 31.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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July 31, 2017 02:00 ET (06:00 GMT)
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