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IN BRIEF: Phoenix Global Resources delists from London's AIM

15th Sep 2022 12:07

Phoenix Global Resources PLC - London-based upstream oil and gas company focused on Argentina - Shares are cancelled from trading on London's AIM.

In August, the company said it planned to delist from AIM and the Buenos Aires Stock Exchange, providing a "cash exit opportunity for shareholders" in the process. Major shareholder Mercuria Energy Group Ltd offered an exit opportunity to shareholders, which was accepted by 223.7 million shares under the terms of the plan. In the plan, Mercuria said it would purchase shares at 7.5 pence each, a 25% premium to its closing price on June 25, the day before Phoenix Global discussed a potential delisting.

By Sophie Rose; [email protected]

Copyright 2022 Alliance News Limited. All Rights Reserved.

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