Xcite Energy Limited Statement re Resignation of Nominated Adviser (6783N)

TIDMXEL

RNS Number : 6783N

Xcite Energy Limited

28 October 2016

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

LSE-AIM: XEL

28 October 2016

Xcite Energy Limited

("Xcite Energy" or the "Company")

Resignation of Nominated Adviser

Following the announcement of the suspension of trading on AIM of the Company's ordinary shares, Liberum Capital Limited has agreed with the Company that it will resign as Nominated Adviser and Broker to the Company with immediate effect. In view of the proposed liquidation of the Company, the Company does not intend to appoint a replacement Nominated Adviser. Therefore under the AIM Rules, the cancellation of admission of the Company's ordinary shares to trading on AIM is expected to take place one month from today.

 
 ENQUIRIES: 
                             +44 (0) 1483 
  Xcite Energy Limited            549 063 
 Rupert Cole / Andrew 
  Fairclough 
 
 

Forward-Looking Statements

This announcement contains certain forward-looking statements that are subject to the usual risk factors and uncertainties associated with the oil and gas exploration and production business. Whilst the Company believes the expectations reflected herein to be reasonable in light of the information available to it at this time, the actual outcome may be materially different owing to factors beyond the Company's control, or otherwise within the Company's control, for example, if the Company decides on a change of plan or strategy. Accordingly, no reliance may be placed on the figures contained in such forward-looking statements.

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October 28, 2016 02:00 ET (06:00 GMT)