Rialto Energy Limited is pleased to announce that, following shareholder approval at the Annual General Meeting held on Friday 22 November 2013, and receipt of a new Certificate of Registration for the Company from the Australian Securities and Investments Commission on Tuesday 10 December 2013, the Company has changed its name to Azonto Petroleum Ltd (Azonto) with immediate effect.
As of today, shares in the Company are trading on AIM under the ticker code “AZO”. With effect from Friday 13 December 2013, shares in the Company on ASX will trade under the ticker code “APY”.
A new corporate website is under construction at www.azpetro.com and an announcement will be made when this is available to view.
Change of Financial Year-end Date
Azonto also announces the change of its financial year-end date from 30 June to 31 December with immediate effect. The change of the Company’s financial year end is to bring the Company’s reporting cycle in line with the majority of its peers.
As a result of the change to the financial year end, the Company’s current financial year will end on 31 December 2013 and the Company will announce its fully audited annual results by 31 March 2014.
The Company’s next Annual General Meeting will take place in May 2014.
Rob Shepherd, Managing Director of Azonto Petroleum Ltd, commented:
“The Company has undergone significant changes in the past year with a largely new management team and Board in place, a new PSC signed for Block CI-202 and a strengthened balance sheet through our recent Placing and transaction with Vitol. As such, we feel it appropriate to change the Company’s name to reflect a fresh start for the Company and its shareholders.
Having been predominantly focused on stabilizing the Company throughout 2013, we now firmly believe that Azonto has the right assets, experience and network in West Africa to create shareholder value and the Board of Azonto look forward to 2014 and beyond with great confidence. We are currently in the process of updating our corporate presentation to set out our strategy and plans going forwards and we will share that with our shareholders at the earliest opportunity.”