28 Jan 2019 12:56
Altona Energy Plc - Correction: Application for Admission to NEX ExchangeAltona Energy Plc - Correction: Application for Admission to NEX Exchange
PR Newswire
London, January 28
The following announcement replaces the announcement issued by the Company at7.00 a.m. today, in the replacement announcement the text “subject to thecompletion of due diligence by NEX” in the first paragraph has been deleted.All other details remain unchanged.The full amended text is shown below.
28 January 2019
Altona Energy plc
("Altona" or the "Company")
Application for Admission to the NEX Exchange Growth Market
Change of Registered Office
Altona (AIM: ANR) announces that it has today applied for admission of its entire issued share capital of 1,558,957 ordinary shares of 10p each (“Ordinary Shares”) to trading on the NEX Exchange Growth Market (“NEX”). Admission is expected to take place on Friday 1 February 2019. The Company cannot guarantee a successful outcome to the application process.
Company Information
Altona is an exploration company focused on the evaluation and development of its significant coal resource exceeding 7 billion tonnes (1.3 billion tonnes historic JORC compliant) in the northern portion of the Permian Arckaringa Basin in South Australia. Through its wholly owned Australian subsidiary Arckaringa Energy Pty Ltd, Altona holds a 100% interest in three exploration licences covering 1,944 sq. kms in the northern portion of the Permian Arckaringa Basin in South Australia including three coal deposits – Westfield (EL5676), Wintinna (EL5677) and Murloocoppie (EL5678). All three deposits lie close to the Adelaide to Darwin railroad and the Stuart Highway.
The Company was admitted to trading on AIM on 10 March 2005. A copy of its admission documents dated 4 March 2005 can be accessed on its website, www.altonaenergy.com. This website is where items can be inspected under Rule 75 of the NEX Rules for Issuers, from 1 February 2019.
Further to the announcements made by the Company on 2 November 2018 and 16 January 2019 regarding the status of its nominated adviser ("Nomad"), the Board has concluded it is not in a position to appoint a Nomad prior to the deadline of 1 February 2019. Therefore, trading in the Company's shares on AIM is likely to be suspended on 1 February 2019 and on 4 March 2019 the admission of its AIM securities will be cancelled.
The Ordinary Shares are eligible for CREST settlement. There are no restrictions on the transfer of Ordinary Shares. The Company is subject to the UK City Code on Takeovers and Mergers. The Company holds no Ordinary Shares in treasury.
Details of the Directors
Qinfu Zhang - Executive Director
Mr Qinfu Zhang has over 30 years work experience in the fields of clean energy and manufacturing. Mr Zhang holds the position of chairman at Wintask Group Limited, Shaanxi Hailang Group, Hlevel Co. Ltd, and Fu'an Biology Technology Co., Ltd.
Phillip George Sutherland - Operations Director
Mr Sutherland tended his resignation to the board on 29 November 2018 and will leave the Company on 29 January 2019.
Chi Ma - Non-Executive Director
Mr Ma is the nominated board representative of Sino-Aus Energy Group Ltd and joined the board in March 2016. He holds a number of directorships in China and has many years' experience in various companies, including those within sectors such as energy, engineering, real estate and technology. Mr Ma brings a wealth of knowledge and business acumen to the Company
On admission to NEX a UK based non-executive director will be appointed to the Board.
Sector classification
Mining
Change of Registered Office and Principal Place of Business
The Company has changed its Registered Office with immediate effect, to the following:
16 Finborough Road
London
SW10 9EQ
The Company’s principal place of business is South Australia.
Shareholder Information
The percentage of Ordinary Shares not in public hands as at 18 January 2019 is 35.23%.
| Name of shareholder / director | Number of Ordinary Shares held | Percentage of enlarged issued share capital |
| Wintask Group Ltd* | 230,000 | 14.75 |
| Eaton Equities Ltd | 215,000 | 13.79 |
| Sino-Aus Energy Group Limited* | 100,000 | 6.41 |
| Philip Sutherland | 2,941 | 0.19 |
*Qinfu Zhang is the Chairman of Wintask Group Limited and Chi Ma is the representative of Sino-Aus Energy Group Limited.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
-ends-
For further information, please visit www.altonaenergy.com or contact:
| Altona Energy plc Qinfu Zhang, Executive Director | +44 (0) 7795 168 157 |
| Northland Capital Partners Ltd (Nomad and Broker) Matthew Johnson / Gerry Beaney (Corporate Finance) Abigail Wayne (Corporate Broking) | +44 (0) 20 3861 6625 |
| Alfred Henry Corporate Finance Ltd (Proposed NEX Exchange Corporate Adviser) Jon Isaacs / Nick Michaels | +44 (0) 20 3772 0021 |
| Leander (Financial PR) Christian Taylor- Wilkinson | +44 (0) 7795 168 157 |
About Altona Energy
Altona’s principal focus is on the evaluation and development of the Company’s flagship Arckaringa Project to exploit the significant coal seams contained in three exploration licences in the northern portion of the Permian Arckaringa Basin in South Australia.