Cancellation of Admission to

RNS Number : 9802Y

Roc Oil Company Limited

14 September 2009

 



14 September 2009

ROC OIL COMPANY LIMITED ('ROC')

STOCK EXCHANGE RELEASE

CANCELLATION OF ADMISSION TO TRADING ON AIM

ROC today announces that the admission of its ordinary shares to trading on the AIM Market of London Stock Exchange plc ('AIM') will be cancelled with effect from 8.00 a.m. on 2 November 2009. The last trading day on AIM will be 30 October 2009. ROC will continue to maintain its listing on the Australian Securities Exchange ('ASX').

This decision has been made following a careful review of its AIM quotation by ROC's Board. The Board considers that the costs incurred to administer the additional regulatory compliance requirements and to maintain the AIM quotation now exceed current and potential future benefits ROC could obtain from the quotation. In making the decision, the Board has given particular consideration to the changes in ROC's asset portfolio, strategic focus and share register. The Board looks forward to the continued support of its AIM shareholders though its ASX listing.

Further information on the cancellation of admission to trading on AIM

Computershare, acting in its capacity as share registrar and custodian to holders of Depository Interests ('DIs') in ROC, will be writing to all DI holders on 15 September 2009 to advise them of the cancellation process.  

ROC's last trading day on AIM will be 30 October 2009. Up to and until this date, ROC's shares will continue to be traded on AIM. Following cancellation, DI holdings in ROC will be transferred to the Australian based share register maintained by Computershare and an updated holding statement of ROC shares will be issued to DI holders. If shareholders wish to sell their DIs before transfer to the Australian share register, they must do so prior to the date of cancellation.  

ROC will continue to maintain its listing on the ASX and, as such, cancellation will not be conditional upon shareholder consent. DI holders wishing to trade ROC's shares after the date of cancellation will be able to do so through the ASX. Further information will be provided in the letter to DI holders.

ROC will continue to comply with all accounting and regulatory requirements for an Australian company listed on the ASX.  

For further information, please visit ROC's website at www.rocoil.com.au, or contact:

Roc Oil Company Limited

Matthew Gerber

Bruce Clement

Tel: [phone]

Oriel Securities Limited (Nominated Adviser)

Michael Shaw

Gareth Price

Tel: [phone]

Buchanan Communications 

Bobby Morse
Tel: + 44 (0)20 7466 5000

 

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