Southern Energy Corp. UPDATE RE SHARE CONSOLIDATION (4089W)
21 Diciembre 2021 - 11:57AM
UK Regulatory
TIDMSOUC
RNS Number : 4089W
Southern Energy Corp.
21 December 2021
SOUTHERN ENERGY CORP. ANNOUNCES
UPDATE RE SHARE CONSOLIDATION
Calgary, Alberta - December 21, 2021 - Southern Energy Corp.
("Southern" or the "Company") (SOU: TSXV) (AIM: SOUC), a
U.S.-focused, growth-oriented natural gas producer, is pleased to
confirm that its proposed share consolidation (the " Consolidation
") announced on December 10, 2021 has been approved by the TSX
Venture Exchange ("TSX-V"), with trading in the post-Consolidation
Shares to commence at market open on December 22, 2021 on both AIM
and the TSX-V.
The 616,901,068 existing Common Shares currently issued and
outstanding will be reduced on the basis of one post-consolidation
Common Share for every eight pre-consolidation Common Shares to
approximately 77,112,652 Common Shares on a post-Consolidation
basis ("Consolidated Shares"). The final aggregate number of
Consolidated Shares, taking into account fractional adjustments,
will be announced prior to market open tomorrow morning.
The Consolidated Shares will trade from tomorrow morning under
the following new ISIN, CUSIP and SEDOL codes:
ISIN: CA8428133059
CUSIP: 842813305
SEDOL: BNYL355
For more information on the Consolidation, shareholders are
encouraged to refer to the management information circular of the
Company dated June 16, 2021, which is available on Southern's SEDAR
profile at www.sedar.com .
For further information, please contact :
Southern Energy Corp.
Ian Atkinson (President and CEO) +1 587 287 5401
Calvin Yau (VP Finance and CFO) +1 587 287 5402
+44 (0) 20 7409
Strand Hanson Limited - Nominated & Financial 3494
Adviser
James Spinney / James Bellman
+44 (0) 20 7907
Hannam & Partners - Joint Broker 8500
Samuel Merlin / Ernest Bell
Canaccord Genuity - Joint Broker +44 (0) 20 7523
Henry Fitzgerald-O'Connor / James Asensio 8000
Camarco +44 (0) 20 3757
James Crothers, Billy Clegg, Daniel Sherwen 4980
About Southern Energy Corp.
Southern Energy Corp. is a natural gas exploration and
production company. Southern has a primary focus on acquiring and
developing conventional natural gas and light oil resources in the
southeast Gulf States of Mississippi, Louisiana, and East Texas.
Our management team has a long and successful history working
together and have created significant shareholder value through
accretive acquisitions, optimization of existing oil and natural
gas fields and the utilization of re-development strategies
utilizing horizontal drilling and multi-staged fracture completion
techniques.
Forward-Looking Information
Certain information included in this press release constitutes
forward-looking information under applicable securities
legislation. Forward-looking information typically contains
statements with words such as "anticipate", "believe", "expect",
"plan", "intend", "estimate", "propose", "project" or similar words
suggesting future outcomes or statements regarding an outlook.
Forward-looking information in this press release may include, but
is not limited to, statements concerning the Consolidation, . The
forward-looking statements contained in this press release are
based on certain key expectations and assumptions made by Southern,
including the timing of the receipt of the required regulatory and
third-party approvals relating to the Consolidation, and the time
such post-Consolidation Shares will be trading on the TSXV and the
AIM.
Although Southern believes that the expectations and assumptions
on which the forward-looking statements are based are reasonable,
undue reliance should not be placed on the forward-looking
statements because the Company can give no assurance that they will
prove to be correct. Since forward-looking statements address
future events and conditions, by their very nature they involve
inherent risks and uncertainties. Actual results could differ
materially from those currently anticipated due to a number of
factors and risks. These include, but are not limited to, the risk
that trading of the Common Shares on a post-Consolidation basis may
not take effect when expected. Other risks faced by the Company are
set out in more detail in Southern's Annual Information Form for
the year ended December 31, 2020, which is available under the
Company's SEDAR profile at www.sedar.com .
The forward-looking information contained in this press release
is made as of the date hereof and Southern undertakes no obligation
to update publicly or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
unless required by applicable securities laws. The forward-looking
information contained in this press release is expressly qualified
by this cautionary statement.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018.
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