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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Woburn Energy | LSE:WBN | London | Ordinary Share | GB00B1YW2916 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMWBN
RNS Number : 6052H
Woburn Energy PLC
24 June 2013
For immediate release
24 June 2013
Woburn Energy Plc
("Woburn" or the "Company")
Suspension of trading on AIM and corporate update
As announced on 18 June 2013, Woburn received payment of the third and fourth instalments in respect of the disposal by its then 51 per cent. owned subsidiary, LQRC, of its 50 per cent. working interest in the Las Quinchas Association Contract (the "Disposal"), in aggregate amounting to US$3,913,123.
The Disposal, which was approved by shareholders on 21 June 2012 (the "General Meeting"), constituted a fundamental change of business of the Company under Rule 15 of the AIM Rules ("Rule 15"), which resulted in the Company becoming an Investing Company.
As an investing company under the AIM Rules, Woburn must have either substantially implemented its investing policy or concluded a reverse takeover on or before 21 June 2013 or otherwise its shares would be suspended from trading on AIM. Accordingly, the Company's shares have been suspended with effect from today.
The Company will have a further six months to conclude a transaction before its shared are cancelled from trading on AIM. The Board is pursuing a number of possible substantial opportunities in the oil and gas sector to implement its investing policy and a further announcement will be made in due course.
As previously announced, the Annual General Meeting of Woburn Energy Plc will be held at the offices of Kennedys LLP at 10.00 a.m. on 28 June 2013.
For further information, please contact:
Hot Features
Premium
Woburn Energy Plc Tel: +44 (0) 20 7380
4600
Kamran Ahmed www.woburnenergy.com
Beaumont Cornish Limited (Nominated Tel: +44 (0)20 7628 3396
Adviser)
Michael Cornish
Definitions
"Las Quinchas Association The association contract between Empresa
Contract" Colombiana De Petroleos (Ecopetrol) and
Clavijo Avila Geopozos & Company S.A. dated
29 January 1996 (as amended)
"LQRC" Las Quinchas Resource Corporation
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
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