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LONDON - Serica Energy PLC (AIM: LON:SQZ), an oil and gas company, disclosed that Jérôme Schmitt, an Independent (LON:IOG) Non-Executive Director of the company, has transferred a total of 9,100 ordinary shares into a nominee account. The transaction took place on June 25, 2024, and was reported for regulatory compliance with the Market Abuse Regulation.
According to the notification, the shares were transferred for nil consideration, indicating no payment was made for the transfer. Importantly, the transaction did not alter the beneficial ownership held by Mr. Schmitt, as the shares remain under his control despite the change in the holding account.
The shares in question are ordinary shares with a par value of US$0.10 each, identified by the code GB00B0CY5V57. The transfer was executed on the London Stock Exchange (LON:LSEG)’s AIM market, a sub-market designed for smaller, growing companies.
This movement of shares into a nominee account is a common practice for simplifying the administration of shareholdings. A nominee account is typically a way to hold securities indirectly through a third party, often for the purposes of confidentiality or convenience.
Serica Energy has made this information public in accordance with Article 19(3) of the Market Abuse Regulation, which requires insiders to disclose transactions on their own shares in the company. Such disclosures are part of the transparency measures that aim to ensure fair trading practices in the financial markets.
The announcement from Serica Energy is based on a press release statement and provides the essential details of the transaction without additional commentary or speculation.
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