Path Investments plc Intended cancellation of Standard Listing (4445C)
January 19 2018 - 10:31AM
UK Regulatory
TIDMPATH
RNS Number : 4445C
Path Investments plc
19 January 2018
19 January 2018
Path Investments plc
("Path" or the "Company")
Intended cancellation of Standard Listing and trading on the
Main Market
Path Investments plc (TIDM: PATH) is pleased to provide an
update to the announcement on 15 December 2017 with regards to the
potential acquisition by the Company of a 50% participating
interest in a producing gas field, the Alfeld-Elze II Licence and
Gas Field in Germany (the "Proposed Transaction").
The Proposed Transaction meets the Company's acquisition
criteria, namely the acquisition of producing, or near production,
oil and gas assets which possess a lower risk profile than
exploration or appraisal assets. The Alfeld-Elze II Licence and Gas
Field is a conventional Rotliegend sandstone gas reservoir, with 2D
seismic coverage, existing production, well control and good access
to infrastructure. The Field is located onshore, 22km south of
Hannover.
In order to effect the Proposed Transaction, Path has applied to
cancel the listing of the ordinary shares of GBP0.001 each in the
Company ("Ordinary Shares") on the standard listing segment of the
Official List of the UK Listing Authority (the "Official List") and
cancel trading of its Ordinary Shares on London Stock Exchange
plc's main market for listed securities ("Main Market"). It is
expected that the last day of dealings in the Ordinary Shares
(which remain suspended) on the Main Market will be 16 February
2018. Cancellation of the listing of the Ordinary Shares on the
Official List is expected to take effect at 8.00 a.m. on 19
February 2018. The Company intends to undertake an equity fund
raising and seek admission of the Ordinary Shares to trading on the
AIM Market of the London Stock Exchange ("AIM") during Q1.
The Company intends to proceed as quickly as possible with the
Proposed Transaction. However, there can be no certainty that the
Proposed Transaction will be successfully completed. If the
Proposed Transaction cannot be successfully completed the Company
intends to maintain its listing of Ordinary Shares on the Official
List and trading will recommence in the Ordinary Shares on the Main
Market of the London Stock Exchange. The Company will make further
announcements in due course, as appropriate.
Enquiries:
Path Investments plc
Christopher Theis
Andy Yeo 020 3934 6632
Shard Capital (Broker
and Financial Adviser)
Simon Leathers
Damon Heath 0207 186 9900
IFC Advisory (Financial
PR & IR)
Tim Metcalfe
Heather Armstrong
Miles Nolan 020 3934 6630
This information is provided by RNS
The company news service from the London Stock Exchange
END
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