P/F Atlantic Petroleum announces that a request for delisting from the secondary listing on Oslo Bors has been sent.
Delisting Oslo Bors
In accordance with the decision of the EGM held on 7th February 2018, the Board of Directors have requested that Atlantic Petroleum be delisted from Oslo Bors.
The decision to delist:
The delay of the delisting is due to changes in management following the EGM and the challenges Atlantic Petroleum faced following London Oil and Gas being placed under administration.
The EGM held on 7th February 2018, decided to delist from Oslo Bors. The decision was unanimous. 299.949 shares where represented at the EGM.
Atlantic Petroleum is primary listed on NASDAQ OMX Copenhagen and secondary listed on Oslo Bors.
The trade in the Company shares on Oslo Bors is limited and the business activity in Norway has decreased significantly over the last few years. As Atlantic Petroleum currently has no activity in Norway and trade in the Company shares is limited the Board of Directors considers it not being appropriate to have Company shares listed on Oslo Bors.
Atlantic Petroleumís total number of shares is 3.697.860. Shares traded on Oslo Bors are 365.044 (9,9%) with 216 shareholders. The remaining shares are traded on NASDAQ OMX Copenhagen, with 6.204 shareholders.
If the request is approved by the Oslo Stock Exchange, The Shareholders on Oslo Bors will still be able to trade at NASDAQ OMX Copenhagen and therefore the delisting from Oslo Bors will have minimal inconvenience for existing Shareholders on Oslo Bors.