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Valeura Energy Inc. Announces Publication of prospectus & proposed LSE admission
CALGARY / ACCESSWIRE / April 17,2019 / Valeura Energy Inc. ( TSX: VLE ) (" Valeura " or the ...
About this update from Valeura Energy Inc.
[{"type":"text","content":"Valeura Energy Inc. Announces Publication of prospectus & proposed LSE admissionCALGARY / ACCESSWIRE / April 17,2019 / Valeura Energy Inc. (TSX: VLE) (\"Valeura\" or the \"Company\"), the upstream natural gas producer focused on appraising and developing an unconventional gas accumulation in the Thrace Basin of Turkey in partnership with Equinor, is pleased to announce the approval by the UK Listing Authority and publication of a prospectus dated April 17, 2019 (the \"Prospectus\"), in relation to the proposed admission of the Company's common shares (the \"Shares\") to the Standard Segment of the Official List of the Financial Conduct Authority (\"Admission\") and trading on the Main Market of the London Stock Exchange (\"LSE\").A copy of the Prospectus has been submitted to the National Storage Mechanism and is available for inspection (subject to securities laws) at www.morningstar.co.uk/uk/NSM. A copy of the Prospectus has also been made available on the Investors section of the Company's corporate website: www.valeuraenergy.com/investor-information/lse-listing/.Subject to final approval by the UK Listing Authority, the Company expects that Admission will become effective and that unconditional dealing in the Shares on the LSE is expected to commence on or around April 25, 2019 under the ticker symbol VLU. The Shares will also continue to trade on the Toronto Stock Exchange (the \"TSX\"). All Shares will become fully fungible between the two exchanges. For clarity, the Company is not issuing any new equity at this time, and accordingly, the additional listing is non-dilutive.Rationale Valeura's management and directors believe that the United Kingdom provides an opportunity for the Company to attract greater shareholder interest than is presently available through only its TSX listing. In particular, a listing on the LSE provides access to investors who are mandated to invest in European regulated markets, in addition to generating appeal with a broader range of equity research analysts. Accordingly, Valeura expects this move will elevate its profile amongst its international oil and gas peer group and increase trading liquidity.The Company believes its 10.1 Tcfe of estimated working interest unrisked mean prospective resources of natural gas, which includes 236 MMbbl of condensate, attributable to its licenses in the Thrace...