REG - Wildcat Petroleum - Proposed Cancellation of Main Market Listing-plans

Wildcat PetroleumAnnouncement

20/02/2026 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260220:nRST7442Ta&default-theme=true

RNS Number : 7442T  Wildcat Petroleum PLC  20 February 2026

20 February 2026

Wildcat Petroleum Plc

("Wildcat", "WCAT" or the "Company")

Strategic Review, Proposed Cancellation of Main Market Listing and Intended
Admission to the Aquis Growth Market

The Company announces that the Board has completed a strategic review of the
Company's investment focus and listing arrangements.

Proposed Cancellation of Main Market Listing

Following this review, the Board has concluded that the regulatory framework,
rules and associated costs of maintaining the Company's listing on the Main
Market are making it increasingly challenging to complete an initial reverse
takeover transaction. Accordingly, the Board intends to seek shareholder
approval for the cancellation of the Company's listing on the Main Market.

Proposed Change in Investment Focus and Intended Admission to the Aquis Growth
Market

In parallel with the proposed cancellation, the Board intends to pursue
opportunities in the gold sector, with a view to developing the Company as an
African-based gold processing business (*). In connection with this proposed
change in investment focus, the Company also intends to apply for admission of
its ordinary shares to trading on the Aquis Growth Market.

The proposed cancellation of the Main Market listing and the proposed
admission to the Aquis Growth Market will each be subject to shareholder
approval at a general meeting. The resolutions will be inter-conditional, such
that if either resolution is not approved, neither proposal will proceed and
the Company will remain listed on the Main Market.

If shareholders approve both resolutions, the Company will appoint an Aquis
corporate adviser and commence the admission process. There can be no
assurance that the Company's application for admission to the Aquis Growth
Market will be successful. In the event that admission is not approved by
Aquis Exchange, the Company will remain listed on the Main Market and the
proposed transition will not proceed.

If admission is approved, the Company will announce the expected date and time
on which its ordinary shares will be cancelled from the Main Market and
simultaneously admitted to trading on the Aquis Growth Market. The Board
currently anticipates that there will be no suspension of trading at any stage
of the process but can't guarantee that.

Current Status

The Company has not entered into any binding agreements in relation to any
proposed acquisition in the gold sector and no transaction has been completed
at this time. There can be no certainty that any acquisition, fundraising or
admission to the Aquis Growth Market will ultimately be completed.

A circular containing further details of the proposals and a notice convening
a general meeting will be sent to shareholders in due course. Further
announcements will be made as appropriate

Fundraise

The Company plans to undertake a fundraise before the end of March - in order
to fund its corporate activity over a minimum twelve month period. Further
announcements on this will be made in due course.

Eligibility for inclusion of shares trading on the Aquis Growth Market within
ISAs or SIPPs

Admission of the Company's ordinary shares to trading on the Aquis Exchange
Growth Market is not expected to affect their eligibility for inclusion within
ISAs or SIPPs under prevailing UK tax legislation. Shareholders should
nevertheless note that ISA and SIPP managers apply their own operational
policies, and the availability of dealing or in-specie transfers in respect of
Aquis Growth Market securities may vary between providers.

Additional Information

 (*) The move from petroleum products to gold mining is mainly due to the
fact that the current depressed oil market makes it very difficult for the
Company to secure sufficient funding to purchase/develop an African oil asset.
The Company does not see the oil market improving in the foreseeable future
and therefore Company feels it must make the switch in order to create
shareholder value.

(*) The Company intends to use its high-level connection within the Sudanese
government in order to secure appropriate sites where it can locate small to
mid-size "turnkey" hard rock gold processing plants. These plants will to
process gold ore tailings produced by local artisanal small-scale gold miners,
whom account for over 80% of the gold produced in Sudan. In order to take
advantage of the current gold price the Company will endeavour to have plants
up and running within months of a site been secured. If the Company can secure
existing processing facilities at a reasonable price then it will consider
buying an already operational plant/ processing facility. In order to take
advantage of the historically high gold prices the company will also engage in
other gold related activities such as alluvial mining, tailing processing,
gold arbitrage and joint-ventures with already operational plants.

The Company will be guided by the principle of producing as much gold as
possible, as quickly as possible, secure the best sale price and plan to
return the bulk of the profits to shareholders through dividend payments.

For further information please contact:

Mandhir Singh (Chairman)
 
msingh@wildcatpetroleum.co.uk (mailto:msingh@wildcatpetroleum.co.uk)

 

 

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  MSCMZGMZLLKGVZM



            Copyright 2019 Regulatory News Service, all rights reserved