President Energy PLC Argentinian Stock Exchange Secondary Listing (1229G)
February 28 2018 - 2:00AM
UK Regulatory
TIDMPPC
RNS Number : 1229G
President Energy PLC
28 February 2018
28 February 2018
PRESIDENT ENERGY PLC
("President", "the Company" or "President Energy")
Process commenced for President Energy's Argentinian Stock
Exchange secondary listing
President Energy (AIM: PPC), the upstream oil and gas company
with a diverse portfolio of production and exploration assets
focused primarily in Argentina, is pleased to announce that it has
commenced the relevant processes to obtain a secondary listing of
the Company's shares on The Bolsa de Comercio de Buenos Aires
(BCBA)- the Argentinian Stock Exchange. The secondary listing is
expected to take place towards the end of Q2 2018. It is intended
that the primary listing of the Company will remain the AIM market
of the London Stock Exchange.
Background to and reasons for the listing
President Energy's proposed secondary listing on the Argentinian
Stock Exchange aims to increase the Company's international profile
and improve liquidity by facilitating the growing investment demand
in Argentina which has been supported by capital returns back into
Argentina and international capital flows into Argentina. The
MERVAL, the most important index of the Buenos Aires Stock
Exchange, was up 72% in 2017.
Peter Levine, Chairman and CEO, commented:
"We have begun the process of becoming an Argentinian listed
Company as a complement to our main listing in London.
"We are committed to significantly expanding our business in
Argentina and are very positive about the Country's prospects.
"The proposed secondary listing will not only expand liquidity
but importantly will expose President to a rapidly emerging,
growing and vibrant audience consisting of both institutional and
private investors domiciled at the epicentre of the Group's
operations who are increasingly looking for companies which have
world class standard of governance, environmental and social
awareness combined with profitability, cash generation and
excellent prospects".
Contact:
President Energy PLC
Peter Levine, Chairman, Chief
Executive
Bruce Martin, Chief Financial
Officer +44 (0) 207 016 7950
finnCap (Nominated Advisor
& Joint Broker)
Christopher Raggett, Scott
Mathieson, Andrew Burdis +44 (0) 207 220 0573
BMO Capital Markets (Joint
Broker)
Jeremy Low, Neil Haycock, +44 (0) 207 236
Tom Rider 1010
Camarco Financial PR
Billy Clegg, Owen Roberts,
Mercedes Valenzuela-Goldman +44 (0) 203 757 4980
Notes to Editors
President Energy is an oil and gas company listed on the AIM
market of the London Stock Exchange (PPC.L) primarily focused in
Argentina, with a diverse portfolio of operated onshore producing
and exploration assets. The Company currently has independently
assessed 1P reserves over 15 MMboe and 2P reserves of more than 25
MMboe.
The Company has operated interests in the Puesto Flores and
Estancia Vieja Concession, Rio Negro Province, in the Neuquén Basin
of Argentina and in the Puesto Guardian Concession, in the Noroeste
Basin in NW Argentina. The Company is focused on growing production
in the near term in Argentina. Alongside this, President Energy has
cash generative production assets in Louisiana, USA and further
significant exploration and development opportunities through its
acreage in Paraguay and Argentina.
President Energy's second largest shareholder is the IFC, part
of the World Bank Group and is actively pursuing value accretive
acquisitions of high quality production and development assets in
Argentina capable of delivering positive cash flows and shareholder
returns. With a strong institutional base of support and an
in-country management team, President Energy gives UK investors
rare access to the Argentinian growth story combined with world
class standards of corporate governance, environmental and social
responsibility.
This announcement contains inside information for the purposes
of article 7 of Regulation 596/2014
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLLFESFDIDFIT
(END) Dow Jones Newswires
February 28, 2018 02:00 ET (07:00 GMT)
Molecular Energies (LSE:MEN)
Historical Stock Chart
From Apr 2024 to May 2024
Molecular Energies (LSE:MEN)
Historical Stock Chart
From May 2023 to May 2024