REG - Scirocco Energy PLC - Cancellation of Listing on AIM

Scirocco EnergyAnnouncement

16/05/2024 07:00

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RNS Number : 6290O  Scirocco Energy PLC  16 May 2024

16 May 2024

Scirocco Energy plc

("Scirocco Energy" or "the Company")

Cancellation of Listing on AIM

Scirocco Energy (AIM: SCIR), the AIM Rule 15 cash shell, today provides an
update with regards to the cancellation from trading on AIM ("Cancellation")
following shareholder approval for the Cancellation at the Company's General
Meeting ("GM") on 7 May 2024.

The Company reminds Shareholders that today, 16 May 2024, will be the last day
of dealings in the Company's ordinary shares on AIM. Admission to trading on
AIM will be cancelled at 7am BST on Friday 17 May 2024.

As discussed in the circular, published on 17 April 2024, the Company stated
it would update shareholders on the selection of service provider that can
facilitate a secondary market trading platform. Scirocco Energy can confirm
that its ordinary shares will be admitted to trade on JP Jenkins
(https://jpjenkins.com/ (https://jpjenkins.com/) ) share dealing platform on
Friday 17 May 2024.

JP Jenkins provides a share trading venue for unlisted or unquoted assets in
companies, enabling shareholders and prospective investors to buy and sell
equity on a matched bargain basis. JP Jenkins is a trading name of InfinitX
Limited and Appointed Representative of Prosper Capital LLP (FRN453007).
Shareholders wishing to trade these securities can do so through their
stockbroker. Trades will be conducted at a level that JP Jenkins is able to
match a willing seller and a willing buyer.

The Board is now engaged with pre-liquidation preparation and expects to
notify shareholders in late June of a further (and final) GM to enter Members
Voluntary Liquidation ("MVL") with the aim of distributing cash to
Shareholders over the 2024 - 2026 (and potentially 2027) period in accordance
with the outcome of the 19 March 2024 GM. The matched bargain trading platform
will cease if the Company enters an MVL. Shareholders are reminded that the
timing of any distributions pursuant to the MVL - which are not guaranteed -
will depend on a number of factors, most predominantly the development of the
Ruvuma asset (in line with the expected plan of its owners which the Company
has no control over), and will be under the control of the liquidator, if the
Company enters an MVL.

The Company will issue notices via the JPJ platform and post them on its
website site which will remain live.

For further information:

 Scirocco Energy plc                                  +44 (0)20 7466 5000

 Tom Reynolds, CEO
 Strand Hanson Limited, Nominated Adviser and Broker  +44 (0) 20 7409 3494

 Ritchie Balmer / James Spinney / Robert Collins
 Buchanan, Financial PR                               +44 (0)20 7466 5000

 Ben Romney / Barry Archer / George Pope

 

 

 

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