22nd Sep 2023 14:29
(Alliance News) - Argos Resources Ltd on Friday said it completed the disposal of PL001 licence interests in North Falkland Basin.
The Falkland Islands-focused oil and gas exploration firm said this followed receiving consent to the transfer of the licence from the Falkland Islands government on Tuesday.
Argos Resources said it has now completed the sale and transfer of PL001 in accordance with the terms of the licence acquisition agreement.
As previously announced, shareholder approval for the proposed winding up of Argos Resources and the appointment of joint liquidators will be sought at a general meeting of the company in the Falklands, at 1700 local time or 2100 BST.
Assuming liquidation proceeds, Argos Resources said cancellation will be processed and the admission of the company's shares on AIM in London will be cancelled, effective from the start of trading on Tuesday.
Argos Resources said it intends to provide a further update on Monday next week.
Shares in Argos Resources are currently suspended.
By Greg Rosenvinge, Alliance News reporter
Comments and questions to [email protected]
Copyright 2023 Alliance News Ltd. All Rights Reserved.