Chagala Group Ltd - Statement re: Intention to Cancel Listing
For Immediate Release
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Statement re: Intention to Cancel Listing
Reasons for Delisting
The Board has conducted a review of the advantages and disadvantages to the Company in retaining its listing. The Board believes that the Delisting is in the best interests of the Company and its shareholders as a whole. In reaching this conclusion, the Board has considered the fact that the management time and legal and regulatory burden associated with maintaining the listing is, in the Board's opinion, disproportionate to the benefits of the listing to the Company and that there is, and has been for some time, a lack of liquidity in the Shares.
Effect of the Delisting
The principal effect of the Delisting is that shareholders in the Company will no longer be able to buy and sell Shares on the Main Market of the LSE or any other public stock market. In addition, following the Delisting, the Company will no longer be required to comply with the continuing obligations set out in the UK Listing Rules, the UK Disclosure Guidance and Transparency Rules or the EU Market Abuse Regulation. In addition, the Company will no longer be subject to the provisions of the UK Disclosure Guidance and Transparency Rules relating to the disclosure of changes in significant shareholders in the Company.
Following the Delisting, the Shares will no longer be traded on the LSE or any other stock exchange or public market.
Expected Delisting Timetable
It is expected that the listing will be cancelled with effect from
Termination of Depositary Interest Facility
All shareholders are advised to consult their professional advisers about their own tax positions, as the Delisting may have taxation consequences for holders of Shares (including in the form of Depositary Interests).
For more information please contact:
Mr. Borko Moric
Chief Executive Officer
Chagala Group Limited
+7 701 084 2874
Chagala invests in service companies focused on providing long and short-term accommodation solutions to domestic and international oil and gas companies developing Kazakhstan's largest hydrocarbon discoveries. With investments in hotels, guest houses, serviced apartments, remote site facilities, restaurants and offices, Chagala is well positioned to capitalize on the oil and gas contribution being made in Kazakhstan.
The release, publication and distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by the laws of those jurisdictions and therefore persons who are not resident in the United Kingdom into whose possession this announcement comes should inform themselves about and observe any such restrictions. Failure to comply with any such restrictions may constitute a violation of the securities laws of any such jurisdiction. To the fullest extent permitted by applicable law, the Company disclaims any responsibility or liability for the violation of such restrictions by any person. Copies of this announcement must not be, directly or indirectly, mailed or otherwise forwarded, distributed or sent in or into or from any jurisdiction where it would be unlawful to do so.
This information is provided by RNS, the news service of the
Quick facts: Chagala Group
Market Cap: -
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE