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ALN

Falcon Oil & Gas Ltd on Tuesday said it will exit AIM next month amid the takeover by Tamboran Resources Corp.

Oil and gas firm Falcon expects the buyout to be completed on March 16, should shareholders approve the deal at a March 11 meeting.

Falcon’s shares are to be suspended on March 17, before cancellation of the following day.

Falcon in September agreed to the C$239 million, around £129.1 million, buyout.

Falcon shares were up 2.7% to 13.50 pence each on Wednesday afternoon in London.

Falcon has assets in Australia and South Africa.