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Leyshon Energy confirms plans for US$15mln shareholder pay-out and de-listing

Last updated: 18:20 13 Jan 2015 AEDT, First published: 19:20 13 Jan 2015 AEDT

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Leyshon Energy (LON:LEN) has confirmed plans to return a total of US$15.4mln in cash to shareholders and cancel its listing on the AIM market.

It comes after the group decided in December to curtail efforts to acquire new projects.

Leyshon had previously been in active talks over possible deals though the steep fall in oil prices made the assets unattractive and as such negotiations came to an end.

Many projects had become marginal or uneconomic, and as a result securing funding for deals is also very difficult, it added.

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