TXO PLC Board Comment re Share Price Movement (4920D)
29 Enero 2015 - 5:00AM
UK Regulatory
TIDMTXO
RNS Number : 4920D
TXO PLC
29 January 2015
TXO PLC
("TXO" or the "Company")
Board Comment re Share Price Movement
The Board is aware of an erroneous corporate action letter sent
to clients of TD Direct Investing (Europe) Limited ("TDI") stating
that the Company would be cancelled from trading on AIM with effect
from 23 February 2015. TDI have been made aware of this error and
are in the process of advising their clients.
TXO has not announced plans to delist. The Company is looking to
appoint a new Nomad and broker and expects to be in a position to
make an announcement shortly.
The Company is also well underway with the production of its
annual accounts which are expected to be published at the end of
March. The recently announced corporate actions, including the
GBP100,000 of cash received from related parties, is sufficient to
meet the Company's working capital needs.
The Company is aware of the source of the incorrect information
disseminated by TDI and is taking advice on the legal and
regulatory steps it should take in regards to this individual.
As per TXO's announcement of 22 January 2015 it will be
suspended from trading on 23 February 2015 if it has not appointed
a replacement nominated adviser by that point. If a replacement
nominated adviser has not been appointed within one month of that
suspension, the admission of the Company's securities to AIM will
be cancelled.
29(th) January 2015
For further information, please contact:
TXO PLC
Tim Baldwin, Chairman +44 (0) 207 518 4300
Northland Capital Partners Limited +44 (0) 207 382 1100
John Howes / Alice Lane
Sales and Broking
Edward Hutton / William Vandyk
Nominated Adviser
Lothbury Financial Services Limited
Michael Padley / Chris Roberts +44 (0) 203 440 7620
Editors' Note
TXO PLC, the AIM quoted oil and gas investment company, has four
main investments namely: The Grand Bahama Group Limited ("GBG")
which is establishing a waste oil collection facility and
Hydrocarbon Recovery Plant in the Bahamas at Freeport and also
produces oil from its leases in Western Kentucky, USA; Oil Recovery
Services Limited ("ORS"), which has proprietary technology for the
reprocessing of contaminated oils and the remediation of dirty
water; Oil Tech Royalties Inc ("OTR"), a joint venture company with
a licence to commercialise a proprietary acoustic flow reactor
valve; Athabasca Resources Limited ("Athabasca Resources") which
has signed an agreement to acquire a 50 per cent. farm-in interest
in certain Alberta Crown Leases covering 7,936 hectares in the
Athabasca oil sands in Alberta, Canada. TXO also has an interest in
Tasmania Oil and Gas Limited ("TOG") a joint venture company set-up
to exploit a gas and oil opportunity in Tasmania, Australia, which
is non-core.
TXO currently holds a 35.67 per cent. interest in GBG, a 25.1
per cent. interest in ORS, a 30 per cent. interest in OTR and an
18.8 per cent. interest in Athabasca Resources. It retains a 25 per
cent. interest in TOG.
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
END
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