International Oil and Gas Tech Ltd Statement re. Suspension (3495K)

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RNS Number : 3495K

International Oil and Gas Tech Ltd

16 April 2015

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND, JAPAN OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

16 April 2015

International Oil and Gas Technology Limited

("IOGT" or the "Company")

Request for Suspension

The Company announced on 9 March 2015 that its directors (the "Directors") had determined it appropriate to pursue a disposal of the Company's principal investment, in Strata Energy Services Inc. ("Strata"), through a specialist investment bank.

As the disposal process for Strata is ongoing, with firm indications of pricing not expected to be available by 30 April 2015 (the deadline for the publication of the Company's annual financial report to 31 December 2014), the Company has requested that the listing and trading of its shares be suspended with immediate effect pending information which enables the Directors to attribute a fair value to the investment in Strata and thereby clarification of the Company's financial position.

A further announcement will be made in due course.

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For further information:

 
 
  Corporate Broker 
Numis Securities 
Nathan Brown        Tel: [phone] 
[e-mail] 
 

Notes to editors:

International Oil and Gas Technology Limited

International Oil and Gas Technology Limited is an authorised closed-ended investment company incorporated in Guernsey. The Company was admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange on 7 January 2008. Its stock market EPIC is OGT.L.

Further information can be found at www.international-ogt.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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