CAB Cabot Energy Plc

TIDMCAB

RNS Number : 2465V

Cabot Energy PLC

02 December 2019

Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. With the publication of this announcement, this information is now considered to be in the public domain.

2 December 2019

Cabot Energy Plc

("Cabot" or the "Company")

Cancellation of Admission to Trading on AIM

Directorate Changes

Secondary Trading Following Cancellation

Total Voting Rights

Cabot Energy Plc (AIM: CAB), the oil and gas company focussed on creating predictable production growth in Canada, announces that, further to the announcement on 25 November 2019, pursuant to Rule 41 of the AIM Rules for Companies, the Company's admission to trading on AIM will be cancelled with effect from 7.00 a.m. on 3 December 2019 (the "Cancellation"). Cabot will re-register as a private limited company and adopt the new Articles of Association following the Cancellation.

Directorate Changes

The Company also announces that following the Cancellation, James Dewar, Interim Non-Executive Chairman, and Rachel Maguire, Independent Non-Executive Director, will leave the Company with effect from 24 December 2019.

Secondary Trading following Cancellation

As stated previously, Cabot has put in place an auction-based secondary market trading facility with Asset Match Limited ("Asset Match") to assist shareholders to trade in the Company's ordinary shares of 1p each ("Ordinary Shares") from the day of Cancellation. Asset Match, a firm authorised and regulated by the Financial Conduct Authority, will operate an electronic off-market dealing facility for the ordinary shares. This facility will allow existing shareholders of the Company ("Shareholders") and new investors to trade ordinary shares by matching buyers and sellers through periodic auctions. Investors can register their interest for further information on the Asset Match auction process by emailing info@assetmatch.com.

The Asset Match trading facility operates under its own code of practice which governs the behaviour of participants and the running of the periodic auctions. Asset Match operates an open auction system where volumes of bids and offers at different prices are displayed on its website, together with the closing date of the auction. At the end of each auction period, Asset Match will pass this information through a non-discretionary algorithm that determines a "fair" share price based on supply and demand and allocates transactions accordingly. Bids and offers may be made and withdrawn at any time before the closing date of each auction.

Shareholders will continue to be able to hold their shares in uncertificated form (i.e. in CREST) and should check with their existing stockbroker whether they are willing or able to trade in unquoted shares. Shareholders wishing to trade shares through Asset Match must do so through a stockbroker and a comprehensive list of stockbrokers who have signed up to access the Asset Match platform is available on the Asset Match website. The preferred broker of Asset Match is the Share Centre www.share.com.

The Asset Match trading facility will initially be established by the Company for a minimum of one year from the date of Cancellation and will be reviewed by the Company on a quarterly basis thereafter. Full details will be made available to Shareholders on the Company's website at www.cabot-energy.com and directly by letter or e-mail (where appropriate). Shareholders may contact Asset Match in relation to any queries regarding trading via the secondary market trading facility by emailing dealing@assetmatch.com.

Total Voting Rights

Following the issue of 28,615,862 new ordinary shares during the month ended 30 November 2019, the Company's total issued share capital and total voting rights as at the date of this announcement is 74,460,984 Ordinary Shares.

The Company does not hold any shares in treasury, therefore, the above figure of 74,460,984 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

-Ends-

Enquiries:

 
Cabot Energy Plc                          +44 (0)20 7469 2900 
James Dewar, Interim Non-Executive 
 Chairman 
 Scott Aitken, CEO 
 Petro Mychalkiw, CFO 
 
SP Angel Corporate Finance LLP            +44 (0)20 3470 0470 
Nominated Adviser and Broker 
David Hignell, Richard Hail, Richard 
 Redmayne 
 
Luther Pendragon                          +44 (0)20 7618 9100 
Financial PR 
Harry Chathli, Alexis Gore, Joe Quinlan 
 
Asset Match Limited                       +44 (0)20 7248 2788 
Ben Weaver, Matthew Wilson 
 

Note to Editors:

Cabot Energy Plc (AIM: CAB) is an oil and gas company focussed on creating predictable production growth in Canada. Comprehensive information on Cabot and its oil and gas operations, including press releases, annual reports and interim reports are available from Cabot's website: www.cabot-energy.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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