REG - i3 Energy PLC - Share Capital Reduction

I3 EnergyAnnouncement

04/07/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240704:nRSD0698Va&default-theme=true

RNS Number : 0698V  i3 Energy PLC  04 July 2024

4 July 2024

i3 Energy plc

("i3", "i3 Energy", or the "Company")

Share Capital Reduction

i3 Energy plc (AIM:I3E) (TSX:ITE), an independent oil and gas company with
assets and operations in the UK and Canada, announces that the court order
cancelling i3 Energy's deferred A shares (issued in conjunction with the share
capital reduction, as previously announced by the Company on 20 June 2024) and
the amount standing to the credit of the share premium account, along with the
associated court approved statement of capital, has been delivered to the
Registrar of Companies. The Capital Reduction will become effective upon the
registration of the court order by the Registrar of Companies, which is
expected to occur in the next few days.

The Capital Reduction has resulted in the creation of distributable reserves
which will give maximum flexibility to consider the payment of dividends and
otherwise to return value to Shareholders, should the Board consider it
appropriate.  With this implementation of the Capital Reduction, there is no
change in the nominal value of the Company's shares, or the number of shares
issued.  The Capital Reduction did not involve any distribution or repayment
of share premium by the Company and will not reduce the underlying net assets
of the Company.

 

ENDS

Enquiries:

 

 i3 Energy plc                                   c/o Camarco

 Majid Shafiq (CEO)                              Tel: +44 (0) 203 757 4980

 WH Ireland Limited (Nomad and Joint Broker)

 James Joyce, Darshan Patel                      Tel: +44 (0) 207 220 1666

 Tennyson Securities (Joint Broker)

 Peter Krens                                     Tel: +44 (0) 207 186 9030

 Stifel Nicolaus Europe Limited (Joint Broker)

 Ashton Clanfield, Callum Stewart                Tel: +44 (0) 20 7710 7600

 Camarco

 Andrew Turner, Violet Wilson, Sam Morris        Tel: +44 (0) 203 757 4980

Notes to Editors:

i3 Energy is an oil and gas Company with a low cost, diversified, growing
production base in Canada's most prolific hydrocarbon region, the Western
Canadian Sedimentary Basin and appraisal assets in the North Sea with
significant upside.

The Company is well positioned to deliver future growth through the
optimisation of its existing working interest asset base and the acquisition
of long life, low decline conventional production assets.

i3 is dedicated to responsible corporate practices and the environment, and
places high value on adhering to strong Environmental, Social and Governance
("ESG") practices. i3 is proud of its performance to date as a responsible
steward of the environment, people, and capital management. The Company is
committed to maintaining an ESG strategy, which has broader implications for
long-term value creation, as these benefits extend beyond regulatory
requirements.

i3 Energy is listed on the AIM market of the London Stock Exchange under the
symbol I3E and on the Toronto Stock Exchange under the symbol ITE. For
further information on i3 Energy please visit  https://i3.energy/
(https://i3.energy/) .

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  CARDBGDRXDGDGSX