Pembridge Resources PLC Statement re AIM listing (8727F)
22 Maio 2017 - 11:31AM
UK Regulatory
TIDMPERE
RNS Number : 8727F
Pembridge Resources PLC
22 May 2017
22 May 2017
Pembridge Resources plc
("Pembridge" or "the Company")
Statement re AIM listing
Pembridge Resources plc (LON: PERE), the AIM listed natural
resource exploration and development company, announces that it
will no longer be seeking to complete a reverse takeover or re-list
as an AIM Rule 8 Investing Company as stated in previous
announcements. The Board has decided that it will instead pursue a
London Stock Exchange ("LSE") standard listing over the coming
weeks.
This decision has been taken for a number of reasons associated
with the rationale underpinning the nature of the investments that
the Company might seek to make and the strict financial criteria
for becoming an AIM Rule 8 Investing Company (which excludes
certain non-equity commitments which the Company may wish to
include in its capital structure).
As previously announced, shareholders should be aware that the
Company will be suspended from trading on AIM six months after it
became a Rule 15 Investing Company (14 December 2016) unless it is
able to complete an RTO or convert into an AIM Rule 8 Investing
Company ahead of that time. The Directors are of the opinion that
it is unlikely that the move to the standard segment of the LSE
will complete before that deadline and that consequently it is
likely that the Company will be suspended from trading on AIM once
the six month deadline expires.
Admission to the Official List and trading on the standard
segment of the London Stock Exchange's main market for listed
securities requires a number of regulatory approvals and approval
of the UK Listing Authority. Shareholders should be aware that
there can be no certainty that the Company will be able to
successfully list on the standard segment of the London Stock
Exchange.
David Linsley, Chief Executive Officer, commented:
'We are pleased to announce that Pembridge Resources will be
seeking an LSE standard listing. Given the unique strategy being
pursued by Pembridge we feel that an LSE standard listing will be
more in line with our strategic objectives and ultimately more
advantageous to the company and our shareholders."
Further announcements will follow in due course.
For further information on the Company, visit:
http://www.pembridgeresources.com/.
Pembridge Resources PLC T: +44 (0)203
David Linsley, Chief 778 0655
Executive Officer
SPARK Advisory Partners T: +44 (0) 2033
- Nominated Adviser 683 555
Sean Wyndham-Quin
Neil Baldwin www.sparkadvisorypartners.com
Shard Capital - Joint T: +44 (0) 20
Broker 7186 9900
Damon Heath
SI Capital Limited - T: +44 (0) 1483
Joint Broker 413 500
Nick Emerson
Andy Thacker
Beaufort Securities Limited T: +44 (0) 207
- Joint Broker 382 8300
Zoe Alexander
This information is provided by RNS
The company news service from the London Stock Exchange
END
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May 22, 2017 10:31 ET (14:31 GMT)
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