| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Petrel Resources to hold EGM to vote on post-Brexit changes to settlement system
StockMarketWire.com
|
Irish oil and gas company Petrel Resources has announced it will hold an EGM on 23 February 2021 to discuss a necessary technical change to the trading of shares following Brexit.
Trades in the company's shares on AIM are currently settled via the CREST System, which is based in the UK.
The company said that as a consequence of Brexit, the settlement system for trading in its shares needs to move from CREST to Euroclear Bank in Belgium. The migration is expected to occur on 15 March 2021 as part of a market-wide migration of all Irish securities. If the resolutions proposed for the EGM are passed, the company's shares will continue to be traded on the AIM market.
The company said that failure to migrate would remove its access to electronic trade settlement and has asked all shareholders to support the proposed resolutions.
Due to COVID restrictions, Petrel Resources said it was encouraging shareholders to appoint the chairman of the EGM as a proxy by submitting a proxy form not less than 48 hours before the time appointed for the meeting.
At 2:11pm: (LON:PET) Petrel Resources PLC share price was 0p at 3.4p
Story provided by StockMarketWire.com
|
|
|
|
|
|
