Last checked at 14 Sep 2009 07:00
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: +61 (0)2 8023 2000
Oriel Securities Limited (Nominated Adviser)
Michael Shaw
Gareth Price
Tel: +44 (0)20 7710 7600
Buchanan Communications
Bobby Morse Tel: + 44 (0)20 7466 5000