LONDON (Alliance News) - Max Petroleum PLC on Friday said that work is ongoing on satisfying the conditions over a USD13.8 million equity subscription by AGR Energy.
"Max Petroleum and AGR Energy continue to work to satisfy all relevant conditions for completion of the subscription, and otherwise to publish information on the company's financial position, including its Annual Accounts for the year ending 31 March 2015, as soon as possible and in any event before 30 September 2015, in order to restore trading and avoid cancellation of its ordinary shares from trading on AIM," the company said.
"There can be no guarantee that admission of the company's ordinary shares to trading on AIM will not be cancelled. In the event of such cancellation, further information on the consequences of this will be provided to shareholders," the company added.
The company's shares have been suspended from trading on AIM since March 2.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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