Business
Application to cross trade on the U.S. OTCQB
Application to cross trade on the U.S. OTCQB.
About this update from Zephyr Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5625B\n Zephyr Energy PLC\n 11 June 2021\n \n \n \n \n \n \n \n 11 June 2021\n \n \n Zephyr Energy plc\n \n \n (the \"Company\", \"Zephyr\" or the \"Group\")\n \n \n \n \n \n Zephyr to submit application to cross trade on the U.S. OTCQB\n \n \n \n \n Zephyr Energy plc (AIM: ZPHR), the Rocky Mountain oil and gas company focused on responsible resource development and carbon-neutral operations, is pleased to announce that it is filing an application with the OTC Markets Group for the Company's Ordinary shares to be publicly cross traded on the OTCQB Market (\"OTCQB\") based in the United States (\"U.S.\"). \n \n \n \n The OTCQB, also called \"The Venture Market,\" was created in 2010 and is recognised as an Established Public Market by the U.S. Securities and Exchange Commission (the \"SEC\"). The OTCQB is a leading market for U.S. and international companies in the entrepreneurial and development stage. As a verified market with efficient access to U.S. investors, OTCQB helps companies build shareholder value with a goal of enhancing liquidity and achieving a fair valuation.\n \n \n The Company believes that having its Ordinary Shares traded on the OTCQB will provide enhanced investor benefits, including easier trading access for investors located in the U.S., and greater liquidity due to a broader geographic pool of potential investors. A market maker will be appointed in the U.S. to support the trading on the OTCQB.\n \n \n \n The process to enlist on the OTCQB is expected to take approximately 6 weeks, and trading on the market will have no impact on Zephyr's existing Ordinary shares which will continue to trade on the AIM Market of the London Stock Exchange, and no new Ordinary Shares will be issued as part of the cross trade on the OTCQB. Zephyr will continue to rely on the announcements and disclosures it makes to the London Stock Exchange and will have no Sarbanes-Oxley or SEC\n \n reporting requirements in connection with the proposed cross-trading on the OTCQB. \n \n \n \n \n To qualify for the OTCQB, Zephyr will demonstrate that it meets high financial standards, follows best practice corporate governance and that it complies with applicable securities laws.\n \n \n Colin Harrington, Chief Execut...