Zephyr Energy PLC Zephyr commences trading on OTCQB Venture Market (3665G)
July 26 2021 - 2:00AM
UK Regulatory
TIDMZPHR
RNS Number : 3665G
Zephyr Energy PLC
26 July 2021
26 July 2021
Zephyr Energy plc
(the "Company" or "Zephyr")
Zephyr commences trading on the OTCQB Venture Market;
Dual trading to provide efficient access for U.S. investors
and increased liquidity for Shareholders
Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF), the Rocky Mountain
oil and gas company focused on responsible resource development and
carbon-neutral operations, is pleased to announce that its Ordinary
Shares have been approved to trade on the OTCQB Venture Market
("OTCQB") in the United States of America (the "U.S.") and will
commence trading at the market open today under the ticker
ZPHRF.
The Company believes that dual trading on the AIM Market of the
London Stock Exchange ("AIM") and the OTCQB will provide enhanced
investor benefits, including easier access for investors based in
the U.S. and increased liquidity due to a broader pool of potential
investors.
The ability to trade in the Company's existing Ordinary Shares
on AIM will not be affected by having the OTCQB facility and no new
Ordinary Shares have been issued. Zephyr will continue to make
announcements and disclosures to the London Stock Exchange through
the Regulatory News Service and has no Sarbanes-Oxley or U.S.
Securities and Exchange Commission ("SEC") reporting
requirements.
The OTCQB is recognised as an Established Public Market by the
SEC and is a leading market for U.S. and international companies in
the entrepreneurial and development stage. To be eligible,
companies must be current in their financial reporting, pass a
minimum bid price test, and undergo an annual company verification
and management certification process. 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 would like to thank Nikolaos Galanopoulos of
Galanopoulos & Company, the corporate securities law firm that
acted as Sponsor for the Company's application to commence
cross-trading on the OTCQB.
Colin Harrington, Zephyr's Chief Executive, said: " We are
pleased to commence Zephyr's dual trading on the OTCQB today,
marking another step forward in this year of rapid progress for the
Company. Cross-trading on the OTCQB will increase liquidity and
significantly enhance the ability of U.S. based investors to access
and trade Zephyr shares during a period in which we are actively
expanding our U.S. asset base. Over the coming months, Zephyr's
management will put specific additional emphasis on increasing our
outreach efforts to U.S. based institutions and investors."
Jonathan Dickson, VP of International Corporate Services at OTC
Markets , said: "We are delighted to welcome Zephyr Energy to the
OTCQB Venture Market. With its primary listing remaining on
London's AIM, the OTCQB's cross-trading facility will allow Zephyr
to broaden its horizons and provide investors in the U.S. with the
ability to access the Company's Ordinary Shares in U.S. dollars and
during U.S. market hours."
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
Andy Thacker / James Pope
Flagstaff Strategic and Investor Communications
Tim Thompson / Mark Edwards / Fergus Tel: +44 (0) 20 7129
Mellon 1474
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