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Wentworth Resources Limited : Expected Effectiveness of Re-domicile to Jersey and Suspension of Trading on AIM and the Oslo Stock Exchange

Posted by OilVoice Press - OilVoice

23-Oct-2018


Wentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed independent, East Africa-focused oil & gas company, announces that the re-domicile of the Company from Alberta, Canada to Jersey (the "Re-domicile") is progressing on schedule and is currently expected to become effective on or around 26 October 2018.

Once the Re-domicile becomes effective, the Company will need to apply to the London Stock Exchange to obtain a new International Securities Identification Number ("ISIN") for its shares and apply to Euroclear UK and Ireland to enable trading of the Company's shares in the CREST settlement system ("CREST").

Whilst the application for the ISIN and the CREST enablement are pending, trading in the Company's shares on AIM will be suspended. The suspension in trading will also apply to trading on the Oslo Stock Exchange.

Suspension in trading is expected to last for four (4) trading days, commencing from the date when the Re-domicile becomes effective (currently expected at close of trading on AIM on Friday 26 October 2018). If the Re-domicile becomes effective at close of trading on AIM on 26 October 2018 as currently expected, the period of suspension of the trading is expected to last from and including Monday 29 October 2018 to and including Thursday 1 November 2018.

Resumption of trading on AIM will require that the Company's shares are readmitted to trading on AIM following the Re-domicile. The Company currently expects that such readmission will take place on 2 November 2018.

The Company will keep shareholders updated as to the actual date of the Re-domicile (expected 26 October 2018) and the suspension period (expected 29 October 2018 to 1 November 2018).

The new ISIN for the Company's shares will be announced through a separate stock exchange announcement as soon as it has been obtained.

Shareholders do not need to take any action associated with the issuance of the new ISIN or the Re-domicile.  Reference is made to Section 8 of the Management Information Circular dated 21 August 2018. Further information on the practicalities of trading in the Company's shares after the Re-domicile will be published at the time of the Re-domicile.

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