EnQuest PLC - London-based oil and gas producer with assets in the UK and Malaysia - Applies for an order from the Canadian securities regulators to terminate its reporting issuer status in all Canadian jurisdictions. In November 2010, the company became a reporting issuer following its acquisition of Stratic Energy Corporation. The acquisition, a share exchange transaction, saw EnQuest acquire the entire share capital of Stratic, a Canadian gas and petroleum explorer formerly listed on the TSX Venture Exchange in Canada and the AIM market of the London Stock Exchange.
If successful in the application, Enquest will cease to be a reporting issuer for any Canadian jurisdiction, and will no loner be obliged to file financial statements in Canada. The company continues to be subject to reporting obligations under United Kingdom securities laws and LSE regulations.
Current stock price: 13.34 pence each, down 0.8% in London on Tuesday afternoon
12-month change: down 40%
By Hugh Cameron, Alliance News reporter
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Enquest (ENQ)