08 Mar Update re cancellation of standard listing
Path Investments plc (TIDM: PATH), is pleased to provide the following update in relation to the Company’s conditional acquisition of a 50% participating interest in an onshore producing conventional gas field, the Alfeld-Elze II Licence and Gas Field in Germany, located some 22 km south of Hannover (the “Acquisition”).
As previously announced, the Company intends to undertake a fund raising and to seek admission of the Company’s ordinary shares to trading on the AIM Market of the London Stock Exchange plc (“AIM”) during Q1 2018 (the “Proposed Transaction”) in conjunction with the completion of the Acquisition.
The Company confirms that progress continues to be made in advancing preparations for the Proposed Transaction, but there can be no certainty at this time that it will be successfully completed. In order to complete the equity fund raising and seek admission of the Ordinary Shares to trading on the AIM Market of the London Stock Exchange (“AIM”) in an orderly manner the Company has requested that the cancellation of the listing of the Ordinary Shares on the Official List be postponed until 8.00 a.m. on Thursday 29 March 2018. Accordingly, it is currently expected that the last day of dealings in the Ordinary Shares (which remain suspended) on the Main Market will be Wednesday 28 March 2018.
Further announcements will be made, as appropriate, in due course.
This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
For further information please contact:
|Path Investments plc Christopher Theis Andy Yeo||020 3934 6632|
|Shard Capital (Broker and Financial Adviser) Simon Leathers Damon Heath||020 7186 9900|
|IFC Advisory (Financial PR & IR) Tim Metcalfe Heather Armstrong Miles Nolan||020 3934 6630|