Deutsche Oel & Gas I S.A.

  • WKN: DGAS52
  • ISIN: DE000A18X5C7
  • Land: Großherzogtum Luxemburg

Nachricht vom 06.10.2017 | 11:28

Deutsche Oel & Gas S.A. intends to file repeated application for admission to exchange trading in 'Baltic Alternative Market First North'

DGAP-News: Deutsche Oel & Gas S.A. / Key word(s): IPO

06.10.2017 / 11:28
The issuer is solely responsible for the content of this announcement.


Deutsche Oel & Gas S.A. intends to file repeated application for admission to exchange trading in "Baltic Alternative Market First North"

  • Obstacles preventing admission to trading identified
  • Repeated application to be filed until end of 2017

Luxembourg, 6 October 2017: The management of Nasdaq Riga and Kay Rieck, Chairman of the Board of Deutsche Oel & Gas S.A., met in Riga to discuss the reasons preventing admission of the class B shares to exchange trading in "Baltic Alternative Market First North". The parties identified a list of issues which shall be improved when the company will file for repeated application.

Kay Rieck said: "We highly appreciate the positive attitude, readiness to cooperate and personal approach of Nasdaq Riga. The requirements identified by the stock exchange are acceptable and will be fulfilled. The status of a public company will materially increase the value to our shareholders. Therefore, we remain committed to file for a new application until the end of this year."

Rainer Klee, Head of Accounting and Controlling of Deutsche Oel & Gas S.A., said: "The status of a public company will benefit the credibility of Deutsche Oel & Gas S.A. and may allow to decrease financing cost, thus benefitting our shareholders. The admission to exchange trading requires to adjust to certain transparency and corporate governance standards. Tight cooperation with Nasdaq Riga will allow us to learn and plan our future in capital markets."

About Deutsche Oel & Gas S.A.:
Deutsche Oel & Gas S.A. (www.deutsche-oel-gas.com), is the Luxembourg holding company of the Deutsche Oel & Gas Group, which specializes in exploration and production of natural gas and crude oil in the Cook Inlet Basin of Alaska. The Deutsche Oel & Gas Group holds the majority of the undeveloped offshore mineral rights in the Cook Inlet Basin, allowing for exploration and production of crude oil and natural gas from the Kitchen Lights Unit, which covers an area of 88,300 acres (around 337 km2).

Contact:
Email: press@deutsche-oel-gas.com
Tel.: +352 2786 2290


06.10.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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