Imperial Plans Move from AIM to Official List
Imperial Energy Corp. PLC, as it previously announced, intends to apply for admission of its ordinary shares to the Official List of the UK Listing Authority (the "Official List") and to trading on the London Stock Exchange's market for listed securities. This will be through an introduction of its existing ordinary shares, with no new shares being issued.
Pursuant to Rule 41 of the AIM Rules for Companies, the Company hereby gives notice of the intended cancellation of trading of its ordinary shares on the AIM market of the London Stock Exchange.
It is expected that the cancellation of the trading in its ordinary shares on AIM will take place at the same time as the ordinary shares are admitted to the Official List and to trading on the London Stock Exchange's market for listed securities, which is expected to occur by the end of April 2007, subject to the receipt of the necessary approvals from the UK Listing Authority and the London Stock Exchange.
Imperial has grown significantly since admission to AIM in 2004 and the Board now considers, having regard to the Company's market capitalization, reserves and resource base, operations and production profile, the Official List to be a more appropriate platform than AIM for the continued growth of the group.
The directors of the Company anticipate that a move to the Official List will increase the public awareness and recognition of the group and will raise its status and profile within its sector. Furthermore, the directors believe that in due course the admission to the Official List should assist in increasing the liquidity of the Company's shares.
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