Egdon Resources Plc, the independent on-shore UK focused energy company announces that the Court has approved the scheme of arrangement and reduction of capital and accordingly the demerger of Egdon Resources Plc into New Egdon and Portland Gas plc is now complete.
Accordingly admission to trading of the ordinary shares in Egdon Resources Plc will be cancelled at 8.00am tomorrow and trading is expected to commence in New Egdon (which has been renamed Egdon Resources plc) and Portland Gas plc at 8.00am tomorrow. Pursuant to the demerger the holders of ordinary shares in Egdon Resources Plc at 6.00pm on Monday 14 January 2008 will receive, for each ordinary share held in Egdon Resources Plc, one ordinary share in New Egdon (which has been renamed Egdon Resources plc) and one ordinary share in Portland Gas plc.
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