REG - Indus Gas Limited - Appointment of Nominated Adviser

Indus GasAnnouncement

27/04/2022 07:16

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RNS Number : 4400J  Indus Gas Limited  27 April 2022

Indus Gas Limited

("Indus" or "the Company")

Appointment of Nominated Adviser

Indus Gas Limited (AIM:INDI.L), an oil and gas exploration and development
company with assets in India, is pleased to announce the appointment of
Strand Hanson Limited as its Nominated Adviser and Financial Adviser with
immediate effect. Arden Partners plc will continue to act as Broker to the
Company.

Further to the announcements by Arden Partners plc on 11 and 14 April 2022
regarding the loss of its nominated adviser status upon the completion of its
recommended takeover, the Company has appointed Strand Hanson Limited as its
nominated adviser. Given the timing of the completion of the recommended
takeover of Arden Partners plc, the London Stock Exchange plc has agreed that
subject to initial due diligence being undertaken, Strand Hanson Limited has
until 5pm on 27 July 2022 to complete its full due diligence.

There can be no guarantee on the outcome of the full due diligence and its
impact on Strand Hanson Limited's decision to continue to act as nominated
adviser. Accordingly, in such circumstances there is a risk that if Strand
Hanson Limited does not continue to act as nominated adviser following
completion of its full due diligence and the Company has not found an
alternative nominated adviser, the Company's AIM securities may be suspended
pursuant to AIM Rule 1. If within one month of that suspension, the Company
has failed to appoint a replacement nominated adviser, the admission of its
AIM securities will be cancelled.

Notwithstanding the extension of time provided in respect of completing full
due diligence obligations at engagement, Strand Hanson Limited will continue
to be subject to all the ongoing nominated adviser responsibilities under the
AIM Rules for Nominated Advisers.

 

For further information please contact:

 Indus Gas Limited
 Jonathan Keeling                                         +44 (0) 20 8133 3375

 Strand Hanson Limited (Nominated and Financial Adviser)
 Ritchie Balmer, Rory Murphy                              +44 (0) 20 7409 3494

 Arden Partners plc (Broker)
 Antonio Bossi, George Morgan
 Equity Sales: James Reed-Daunter                         +44 (0) 20 7614 5900

 

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