Edge Resources Inc. Proposed Delisting from AIM (0261R)
04 Marzo 2016 - 8:00AM
UK Regulatory
TIDMEDG
RNS Number : 0261R
Edge Resources Inc.
04 March 2016
TSX Venture Exchange Symbol: EDE
AIM Exchange Symbol: EDG March 4, 2016
EDGE RESOURCES INC. Calgary, Alberta
Edge Resources Inc. Announces Proposed Delisting From AIM
Edge Resources Inc. ("Edge" or the "Company") announces that its
nominated advisor, Sanlam Securities UK Limited ("Sanlam"), intends
to cease its nominated adviser and small cap broking business.
Consequently, the Company will cease to have a nominated adviser on
March 14, 2016.
Following receipt of Sanlam's notice, the Company undertook a
strategic review process assessing the viability of its ongoing
quotations on both AIM and the TSX-V. Edge has now taken the
decision that, in light of the additional cost and regulatory
burdens imposed upon the Company by having two quotations, it will
not seek to appoint a new nominated adviser and therefore its
admission to trading on AIM will be suspended from 7:30 a.m. on
March 15, 2016.
Pursuant to Rule 1 of the AIM Rules for Companies, if an AIM
company ceases to have a nominated adviser, trading in its
securities will be suspended. Under the AIM Rules, the Company's
admission to trading on AIM will be cancelled on April 15, 2016
(the "Cancellation Date"). Pursuant to Rule 41 of the AIM Rules,
the Company intends to host a shareholder meeting in Calgary on
April 11, 2016, at which shareholders will be given the opportunity
to vote on the proposal. Shareholders will be provided with
official notice and details of the shareholder meeting, including
an information circular, in the coming days.
Shareholders should note though that even if less than 75% of
votes cast at this meeting are in favour of the cancellation, the
Company does not intend to appoint a new nominated adviser; and
thus, trading in its shares on AIM will still be cancelled on the
Cancellation Date.
Prior to March 15, 2016, shareholders may continue to trade
their securities on AIM. Shareholders that hold their shares via
Depositary Interests ("DIs") created by Computershare Investor
Services PLC and held in CREST will not be required to move their
holdings from CREST until such time as they wish to trade their DIs
or transfer them to the Canadian Depositary System ("CDS").
The Company encourages shareholders to migrate their holdings of
common shares to the Canadian shareholder register. DI holders
wishing to transfer their position should contact their broker or
independent professional adviser for the procedure to follow, or to
contact Computershare Investor Services PLC, The Pavilions,
Bridgwater Road, Bristol BS99 6ZZ, telephone 0870 703 0027, for the
procedure.
The Company has taken this decision in light of extremely
challenging macro conditions and in order to further reduce its
ongoing costs. Shareholders will still be able to trade the
Company's shares on the TSX-V. The Company is also providing this
advance notice to shareholders to help allow those UK based
investors who do not wish to trade their shares on TSX-V to trade
their shares on AIM ahead of the Company's suspension on March 14,
2016.
Brad Nichol, President and CEO of Edge, commented, "While it is
an unfortunate decision that we've been forced to take, delisting
from AIM is a necessary step to help ensure the Company stays
viable in this extremely challenging oil and gas market. This
market has forced many difficult decisions on management teams
across the globe and it is my hope that our many supportive UK
shareholders see this for what it is - a necessary step to help
maintain the value of their investment, not abandon it."
For more information, visit the company website: www.edgeres.com
or contact:
Brad Nichol, President and CEO Phone: +1 403 767 9905
Sanlam Securities UK Limited (NOMAD and Joint Broker) Phone: +44 20 7628 2200
Simon Clements / James Thomas
SP Angel Corporate Finance LLP (Joint Broker) Phone: +44 20 3463
2260
John MacKay / Richard Hail
About Edge Resources Inc.
Edge Resources is focused on developing a balanced portfolio of
oil and natural gas assets from properties in Alberta and
Saskatchewan, Canada. Management has consistently focused on:
1. Shallow, vertical, conventional programs with reduced
capital, operational and geological risks
2. Very high or 100% working interests and fully operated assets
3. Pools and horizons with exceptionally high reserves in place
The management team's very high drilling success rate is based
on the safe, efficient deployment of capital and a proven ability
to efficiently execute in shallow formations, which gives Edge
Resources a sustainable, low-cost, competitive advantage.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUOUWRNUAORAR
(END) Dow Jones Newswires
March 04, 2016 02:00 ET (07:00 GMT)
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