EnQuest PLC Nasdaq Stockholm delisting application (3439L)
05 Settembre 2023 - 8:02AM
UK Regulatory
TIDMENQ
RNS Number : 3439L
EnQuest PLC
05 September 2023
EnQuest PLC, 5 September 2023
EnQuest plans to apply for delisting of its shares from Nasdaq
Stockholm
EnQuest PLC ('EnQuest' or the 'Company') plans to apply for
delisting of the Company's shares from Nasdaq Stockholm. The formal
application for delisting will, however, be submitted to Nasdaq
Stockholm no earlier than three months after the market has been
informed of the delisting plans through this press release. The
Company's shares will remain listed on the London Stock
Exchange.
EnQuest's listing on Nasdaq Stockholm originated from the issue
of shares as consideration to Swedish resident shareholders in the
former Lundin entity acquired in the early years of the
Company.
Whilst the UK was a member state of the European Union ('EU'),
the London Stock Exchange was the Company's primary listing for EU
purposes and, therefore, the additional compliance requirements
relating to the Company's listing on Nasdaq Stockholm were minimal.
However, following the departure of the UK from the EU, the UK is
no longer considered to be EnQuest's primary EU listing, and has
been replaced as such by Nasdaq Stockholm. This therefore imposes
significant additional compliance requirements.
EnQuest has no legal or physical presence in Sweden and is
therefore reliant on external support to ensure compliance with
Nasdaq Stockholm listing requirements. This has created a source of
additional unexpected compliance cost for the Company.
The ownership of the shares will not be affected by a delisting,
and shareholders will maintain their shareholders' rights under
applicable corporate law and the Company's constitutional
documents.
Following the delisting, EnQuest's shareholders holding their
shares through Euroclear Sweden AB can continue trading in
EnQuest's shares on the London Stock Exchange by first arranging
for a cross-border transfer of their shares into the book-entry
system maintained by Euroclear UK & Ireland Limited (also known
as CREST). Further details of such cross-border transfers will be
provided in due course.
The information was submitted for publication, through the
agency of the contact persons set out below, at 07:00 UK time on 5
September 2023.
Ends
For further information please contact:
EnQuest PLC Tel: +44 (0)20 7925 4900
Amjad Bseisu (Chief Executive Officer)
Salman Malik (Chief Financial Officer)
Craig Baxter (Head of Investor Relations)
Teneo Tel: +44 (0)20 7353 4200
Martin Robinson
Martin Pengelley
Harry Cameron
Notes to editors
ENQUEST
EnQuest is providing creative solutions through the energy
transition. As an independent energy company with operations in the
UK North Sea and Malaysia, the Group's strategic vision is to be
the partner of choice for the responsible management of existing
energy assets, applying its core capabilities to create value
through the transition.
EnQuest PLC trades on both the London Stock Exchange and the
NASDAQ OMX Stockholm.
Please visit our website www.enquest.com for more information on
our global operations.
Forward-looking statements: This announcement may contain
certain forward-looking statements with respect to EnQuest's
expectations and plans, strategy, management's objectives, future
performance, production, reserves, costs, revenues and other trend
information. These statements and forecasts involve risk and
uncertainty because they relate to events and depend upon
circumstances that may occur in the future. There are a number of
factors which could cause actual results or developments to differ
materially from those expressed or implied by these forward-looking
statements and forecasts. The statements have been made with
reference to forecast price changes, economic conditions and the
current regulatory environment. Nothing in this announcement should
be construed as a profit forecast. Past share performance cannot be
relied upon as a guide to future performance.
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END
MSCEAENLELNDEAA
(END) Dow Jones Newswires
September 05, 2023 02:02 ET (06:02 GMT)
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