Serica to voluntarily delist from TSX

RNS Number : 6686H

Serica Energy plc

17 March 2015

 

Serica Energy plc

("Serica" or the "Company")

Serica to Voluntarily Delist from Toronto Stock Exchange

London, 17 March, 2015. Serica Energy plc (AIM & TSX: SQZ) announced today that it has applied for voluntary delisting of its ordinary shares from the Toronto Stock Exchange (the "TSX"). Serica's shares are currently listed for trading on the TSX and the AIM market of the London Stock Exchange ("AIM"). It is expected that the shares will be delisted from the TSX at the close of trading on 31 March, 2015. Serica's shares will continue to trade on AIM under the ticker SQZ.

The directors of the Company believe that the minimal trading activity of Serica's shares on the TSX no longer justifies the expenses and administrative efforts associated with maintaining this dual listing, with Serica's AIM listing providing its shareholders with sufficient liquidity. The administrative and regulatory efficiencies provided by focusing on a single listing are part of a wider package of cost cutting measures adopted by Serica.  The delisting is not expected to have any impact on Serica's ongoing operations, nor on its ability to raise further funds, if required, to progress the continued development of its projects.

Further information regarding the implications of the delisting for shareholders on the Canadian branch register will be available on Serica's website (www.serica-energy.com) on or before 20 March 2015.

Shareholders who hold their shares through a Canadian broker are encouraged to contact their broker.

Shareholders on the Canadian branch register are encouraged to contact TMX Equity Transfer Services Inc., the Company's Canadian share registry, at 1-[phone] ext.205 or by email at [e-mail] or Capita Asset Services, the Company's UK share registry, at [phone] or in the UK at 0871 664 0300, for further information.

Serica maintains a comprehensive website (www.serica-energy.com) whereby activities of the Company are updated regularly with all announcements. The Company will continue to update shareholders on the current activities of the Company via its website and will be lodging on AIM all financial reports as required by the AIM rules for Companies. These financial reports will also be made available on the Company's website.

ENQUIRIES:

Serica Energy plc

Jan Davies, Company Secretary	[e-mail]	[phone]
Chris Hearne, CFO	[e-mail]	[phone]
Peel Hunt
Richard Crichton	[e-mail]	[phone]
Charles Batten	[e-mail]	[phone]
Instinctif Partners
David Simonson	[e-mail]	[phone]
Anca Spiridon	[e-mail]	[phone]

NOTES TO EDITORS

Serica is an oil and gas exploration and production company with exploration, development and production assets in the UK and Norway and exploration interests in the Atlantic margins offshore Ireland and West Africa. The Company is actively exploring its licences offshore UK, Ireland, Morocco and Namibia in partnership with other companies. Further information on the Company can be found at www.serica-energy.com.

The Company is listed on AIM and is listed as a designated foreign issuer on the TSX in both cases under the ticker SQZ. To receive Company news releases via email, please contact [e-mail] and specify "Serica press releases" in the subject line. 

FORWARD LOOKING STATEMENTS

This disclosure contains certain forward looking statements that involve substantial known and unknown risks and uncertainties, some of which are beyond Serica's control, including: geological, geophysical and technical risk, the impact of general economic conditions where Serica operates, industry conditions, changes in laws, taxes and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. Serica's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward looking statements will transpire or occur including, without limitation, the delisting of Serica's ordinary shares from the TSX, or if any of them do so, what benefits Serica will derive therefrom.

 

END

 

 

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