Senterra Energy seeks to reverse into UOG Holdings
Shares in Senterra Energy have been suspended at its request after the company unveiled plans to reverse into UOG Holdings Plc, an independent oil and gas company.
United Oil & Gas
0.22p
14:24 15/11/24
-6.67%
-0.02p
It had inked a heads of terms to this end, and would issue ordinary shares of £0.01 each in the capital of Senterra to the shareholders of UOG.
The deal, if it went ahead, would constitute a reverse takeover under listing rules, and Senterra said it had sought and been granted a share suspension.
The suspension was pending the publication of a prospectus and the application for the enlarged company to have its shares listed on London Stock Exchange's main market.
Senterra's shares last traded at 2.5p each.