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.

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

Recommended

The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into
2 Mar 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
27 Feb 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023

Most Popular

5 top UK tech stocks
Investments

5 top UK tech stocks

The UK market has never been considered a fertile hunting ground for tech stars. But there are plenty of promising companies beyond the old economy, s…
23 Mar 2023
Where will house prices go in 2023?
House prices

Where will house prices go in 2023?

We explore what could happen to house prices in 2023 as the market continues to slow down.
24 Mar 2023
Will energy prices go down in 2023?
Personal finance

Will energy prices go down in 2023?

Ofgem’s price cap is now predicted to fall below £2,000, based on average typical use, from July, for the first time since 2022. We have all the detai…
21 Mar 2023