Lochard Energy falls on removal from ASX
Shares in Lochard Energy Group fell more than 18 per cent Monday following news the company would be removed from the Australian Securities Exchange (ASX).
Shares in Lochard Energy Group fell more than 18 per cent Monday following news the company would be removed from the Australian Securities Exchange (ASX).
Lochard, which is also listed as an AIM company on the London Stock Exchange, said it was granted approval to be taken off the ASX in an effort to streamline listing and compliance costs.
The board said the company experienced low level of liquidity in trading on the ASX compared to AIM, creating disproportionately high costs.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The Australian register accounted for less than 6.5% of the share capital of the company.
Lochard will be removed from the ASX following announcement to the market, provision of a facility for Australian shareholders to sell their Lochard shares on AIM, and the delivery of a letter to Australian shareholders about the move.
Lochard will then be removed from the ASX official list on April 14th.
Australian shareholders will have their electronic holdings on the ASX register converted to certificated holdings on the Australian register.
RD
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%
Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the US
Medium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.