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Exillon Energy Plc (EXI)

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Thursday 31 October, 2019

Exillon Energy Plc

Notice of Intention to Delist from the LSE

RNS Number : 8280R
Exillon Energy Plc
31 October 2019
 

FOR IMMEDIATE RELEASE

31 October, 2019

Exillon Energy plc

Notice of Intention to Delist from the London Stock Exchange

Exillon Energy plc ("Exillon" or the "Company") announces today that it intends to apply for the cancellation of the listing of its ordinary shares (the "Shares") on the premium segment of the Official List of the Financial Conduct Authority and of trading on the Main Market of the London Stock Exchange plc (the "LSE") (the "Delisting").

Delisting is subject to approval by at least 75% of shareholders of the Company at an upcoming extraordinary general meeting of shareholders ("EGM"), which the Company intends to convene shortly. The intended date of Delisting will be confirmed at the EGM.

Exillon intends to offer to repurchase Shares from the Company's shareholders by way of a tender offer the amount of which will be determined at a later stage and will in no event exceed 25% of the Company's issued share capital, subject to approval of such repurchase by the Company's shareholders at the upcoming EGM. For these purposes, Exillon will appoint a financial advisor to support the Company in carrying out the tender offer and repurchase of Shares from shareholders.

Further information regarding the Delisting and tender offer to repurchase shares, including the reasons for Delisting and the terms of the repurchase will be set out in a circular to shareholders which is expected to be published and distributed in the near future.

Following the Delisting, Exillon will no longer be required to comply with the Listing Rules, the Disclosure Guidance and Transparency Rules or the Market Abuse Regulation. The Company will remain subject to the laws and regulations of the Isle of Man following the Delisting.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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