Nucor earnings beat by $0.08, revenue fell short of estimates
SYDNEY - 88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF), an oil and gas exploration company, has announced a temporary suspension of trading on the AIM market in relation to its share consolidation process. The consolidation, which was approved by the company’s shareholders on Thursday, will see the issued share capital of 88 Energy reduced on a 25:1 basis.
Trading of the company’s depositary interests (DIs) on AIM will be halted at 7:30 a.m. on Wednesday, May 12, 2025, with the expectation that trading will resume on Thursday, May 13, 2025, at 7:30 a.m. This temporary suspension is a procedural measure to allow the consolidation to be effected.
The consolidation follows a shareholder resolution passed at the company’s Annual General Meeting (AGM) held on May 6, 2025. According to the timeline provided, the last day for trading before the consolidation was Friday, May 7, 2025, and trading commenced on a deferred settlement basis today.
The record date for the consolidation was set for Monday, May 9, 2025, with the last day for the company to register transfers on a pre-consolidation basis. All transactions and adjustments will be made in accordance with the outlined schedule, concluding with the update of the company’s register and the issuance of holding statements to security holders reflecting the revised number of shares they hold by Monday, May 16, 2025.
The consolidation is part of 88 Energy’s corporate strategy, and the temporary trading suspension is a standard procedure in such corporate actions. The company has provided the necessary information to shareholders and the market to ensure a smooth transition during this period.
This news is based on a press release statement and is intended to inform investors and the public of the upcoming changes to 88 Energy’s share structure. Investors are advised to review their holdings and take note of the resumption of trading to adjust their investment decisions accordingly.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.