Solimar Energy Limited

Solimar Energy Limited

November 28, 2013 21:40 ET

Solimar Energy Limited: Timetable for Consolidation of Shares

MELBOURNE, AUSTRALIA--(Marketwired - Nov. 28, 2013) - Solimar Energy Limited ("Solimar" or "the Company") (TSX VENTURE:SXS)(ASX:SGY) is pleased to announce that it has received approval from its shareholders, at the Annual General Meeting it held earlier today, to implement the share consolidation.

The consolidation will convert every 25 Shares into one (1) Share.

The timetable for the consolidation is as follows:

Monday 2 December 2013: Last day for trading in pre-consolidated shares.
Tuesday 3 December 2013: First day for trading in post-consolidated shares on a deferred settlement basis.
Monday 9 December 2013: Last day to register transfer of shares on a pre-consolidated basis.
Tuesday 10 December 2013: First day to register transfers of shares on a post-consolidated basis.
First day to issue holding statements to shareholders.
Monday 16 December 2013: Issue date for share consolidation.
Deferred settlement market ends.
Last day for shares to be entered into holder's security holdings.
Last day to issue holding statements to shareholders.

The above dates are indicative only and subject to change by the company in accordance with the listing rules of the TSXV, the ASX Listing Rules and the Corporations Act 2001 (Cth).

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Reader Advisory: Forward-looking statements

This news release contains forward-looking information relating to the Company's consolidation of shares and other statements that are not historical facts. Such forward-looking information is subject to important risks, uncertainties and assumptions. The results or events predicated in this forward-looking information may differ materially from actual results or events. As a result, you are cautioned not to place undue reliance on this forward-looking information.

Forward-looking information is based on certain factors and assumptions. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward looking-information is subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what is currently expected. These factors include risks associated with the instability of the economic environments in which the Company operates or owns interests, oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, incorrect assessment of the value of acquisitions, failure to realize the anticipated benefits of acquisitions, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, reliance on key personnel, regulatory risks and delays, including risks relating to the acquisition of necessary licenses and permits, environmental risks and insurance risks.

You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, the Company is under no obligation and does not undertake to update this information at any particular time, except as required by law.

ABN 42 112 256 649

Contact Information

  • Solimar Energy Limited
    Jason Bednar
    +1 805 643 4100 or (03) 9347 2409

    Solimar Energy Limited
    Chris Bowyer
    Company Secretary
    +1 805 643 4100 or (03) 9347 2409