Cancellation of Trading

8 Feb 2008 07:00

Star Energy Group PLC08 February 2008 Friday 8 February 2008 Star Energy Group PLC ("Star Energy" or "the Company") Cancellation of Trading Star Energy, the gas storage and onshore UK oil and gas E&P company, announcesthat yesterday it applied to the London Stock Exchange for the cancellation ofthe admission to trading of Star Energy Shares on AIM. This follows the announcement, on 16 January 2008, by PICL that it had receivedvalid acceptances in respect of a total of 40,909,984 Star Energy shares,representing approximately 43.0 per cent. of the issued share capital of StarEnergy, which, together with PICL's existing shareholding of 52,885,455 StarEnergy shares, represented approximately 98.5 per cent. of the issued sharecapital of Star Energy under the terms of its Revised Offer as posted to StarEnergy shareholders on 2 January 2008. It is anticipated that such cancellation will take place no earlier than 7 March2008, being the twentieth business day following the date of this announcement.The cancellation of the admission to trading of Star Energy Shares on AIM willsignificantly reduce the liquidity and marketability of any Star Energy Sharesthat have not been acquired by PICL. It is also anticipated that after thecancellation of the admission to trading of Star Energy Shares on AIM, StarEnergy will be re-registered as a private company in due course. PICL has posted formal notices under section 979 of the Act to Star Energyshareholders who have not yet accepted the Revised Offer. The transfer of StarEnergy Shares, in accordance with the compulsory acquisition notices, isexpected to occur by March 2008. Enquiries: Star Energy 020 7925 2121Roland Wessel, Chief ExecutiveColin Judd, Finance Director Financial Dynamics 020 7831 3113Ben Brewerton / Ed Westropp Words and expressions which are defined in the revised offer document dated 2January 2008 containing the Revised Offer (the 'Revised Offer Document') applyto this announcement unless otherwise indicated. The directors of Star Energy accept responsibility for the information containedin this announcement. To the best of the knowledge and belief of the directorsof Star Energy, who have taken all reasonable care to ensure that such is thecase, the information contained in this Announcement is in accordance with thefacts and does not omit anything likely to affect the import of suchinformation. This information is provided by RNS The company news service from the London Stock Exchange