Calima Energy Ltd (AU:CE1) has released an update.
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Calima Energy Ltd has announced its intent to delist from the Australian Securities Exchange due to a prolonged trading suspension, lack of liquidity, and the sale of its key assets, which resulted in no operational holdings except cash. The company cited the cost savings on listing expenses and the ability to focus on new projects as key reasons for the decision. Shareholders will vote on the delisting proposal, and if approved, shares will no longer be publicly traded, but the company will remain subject to certain disclosure obligations.
For further insights into AU:CE1 stock, check out TipRanks’ Stock Analysis page.
