Zephyr Energy PLC Application to cross trade on the U.S. OTCQB (5625B)
June 11 2021 - 2:00AM
UK Regulatory
TIDMZPHR
RNS Number : 5625B
Zephyr Energy PLC
11 June 2021
11 June 2021
Zephyr Energy plc
(the "Company", "Zephyr" or the "Group")
Zephyr to submit application to cross trade on the U.S.
OTCQB
Zephyr Energy plc (AIM: ZPHR), the Rocky Mountain oil and gas
company focused on responsible resource development and
carbon-neutral operations, is pleased to announce that it is filing
an application with the OTC Markets Group for the Company's
Ordinary shares to be publicly cross traded on the OTCQB Market
("OTCQB") based in the United States ("U.S.").
The OTCQB, also called "The Venture Market," was created in 2010
and is recognised as an Established Public Market by the U.S.
Securities and Exchange Commission (the "SEC"). The OTCQB is a
leading market for U.S. and international companies in the
entrepreneurial and development stage. As a verified market with
efficient access to U.S. investors, OTCQB helps companies build
shareholder value with a goal of enhancing liquidity and achieving
a fair valuation.
The Company believes that having its Ordinary Shares traded on
the OTCQB will provide enhanced investor benefits, including easier
trading access for investors located in the U.S., and greater
liquidity due to a broader geographic pool of potential investors.
A market maker will be appointed in the U.S. to support the trading
on the OTCQB.
The process to enlist on the OTCQB is expected to take
approximately 6 weeks, and trading on the market will have no
impact on Zephyr's existing Ordinary shares which will continue to
trade on the AIM Market of the London Stock Exchange, and no new
Ordinary Shares will be issued as part of the cross trade on the
OTCQB. Zephyr will continue to rely on the announcements and
disclosures it makes to the London Stock Exchange and will have no
Sarbanes-Oxley or SEC reporting requirements in connection with the
proposed cross-trading on the OTCQB.
To qualify for the OTCQB, Zephyr will demonstrate that it meets
high financial standards, follows best practice corporate
governance and that it complies with applicable securities
laws.
Colin Harrington, Chief Executive of Zephyr, said : "We believe
dual trading on the OTC and AIM Markets represents another
important step for the Zephyr corporate platform. Dual trading,
combined with our recent pledge to achieve carbon neutrality across
our operational footprint, will serve to diversify the share
register and increase exposure to a broader range of investors,
whether U.S.-based or ESG-focused. This action comes on the back of
an already increased level of interest from U.S. investors as a
result of the recent expansion of our operational footprint in the
U.S.
"Over the last 18 months, we've worked hard to complete Zephyr's
corporate transformation, and following our admission to trade on
the OTCQB, I believe our Company platform will now be optimally
structured to benefit from the considerable operational activity
planned for the coming months."
Contacts:
Zephyr Energy plc Tel: +44 (0)20 7225 4590
Colin Harrington (CEO)
Chris Eadie (CFO)
Allenby Capital Limited - AIM Nominated Tel: +44 (0)20 3328 5656
Adviser
Jeremy Porter / Liz Kirchner
Turner Pope Investments - Broker Tel: +44 (0)20 3657 0050
James Pope / Andy Thacker Tel: +44 (0) 20 7129
Flagstaff Strategic and Investor Communications 1474
Tim Thompson / Mark Edwards / Fergus
Mellon
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END
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