Serica Energy.Toronto based shares conundrum.

Friday, Mar 09 2018 by

Many years ago before Serica Energy Serica Energy (LON:SQZ) was quoted on AIM I bought a few shares in Serica Energy on the Toronto exchange for my SIPP. In spite of my hope that they might strike lucky they failed to perform and the share value dwindled to such extent that it was hardly worth selling them and they became merely an option that something might turn up without my having to devote any attention to them. Something did turn up and from a low of 3p a share in London in 2015 they have risen to a rather healthier 72 p now.

Unfortunately, having registered their improved fortune I discovered that Serica Energy had been delisted from the Toronto exchange in 2015: Now I happily hold a couple of delisted dividend paying UK stocks but I am not particularly keen to hold until Serica starts to pay a dividend or receives a takeover offer and would prefer to sell my shares. However, my SIPP broker tells me that at present he can not see how this might be done.

Does anyone who has faced a similar delisting of shares from a foreign exchange while the equivilant shares continue to be traded in Londo have any advice or suggestions as to how I might dispose of my formerly Toronto listed shares that previously traded pretty much in lockstep with the AIM listed shares of Serica.?

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Serica Energy plc is a United Kingdom-based oil and gas company. The Company has exploration and development activities based in the United Kingdom, Ireland, Namibia and Morocco, and an economic interest in an oilfield offshore Norway. The Company's segments include UK, Ireland and Africa. It holds licenses in the Central North Sea and the East Irish Sea, which includes the Columbus Field. It holds Frontier Exploration Licenses for Muckish, Aghla and Derryveagh, and Liffey and Boyne Prospects. The Company also holds interest in Blocks 113/26b and 113/27c, including the Doyle prospect. It holds interest in Block 113/22a, which is operated by Zennor North Sea Limited. The Company has interest in a Petroleum Agreement covering Blocks 2512A, 2513A, 2513B and 2612A in the Luderitz Basin, offshore Namibia in partnership with other companies. The Company has working interest in the Sidi Moussa license. The Company has an economic interest in the potential development of the Vette field. more »

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2 Posts on this Thread show/hide all

gus 1065 10th Mar '18 1 of 2

Hi homosap.

Just a thought, but have you tried contacting the company directly via their investor relations? You can’t be unique in this situation and they may be willing/able come to some arrangement to help you (while tidying up their own share register). Interested to hear how you get on.


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homosap 10th Mar '18 2 of 2

In reply to post #336653

Hi Gus

Serica have outsourced the job of Company Secretary and I have spoken to her and am awaiting a reply. I presume she does not speak with the Centre too often as a reply is overdue. I was hoping that someone reading Stockopedia might have encountered the position before and could advise.


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