New Guinea Energy Ltd have delisted from trading on the Port Moresby Stock Exchange (POMSoX).
In a notice to the Australia Security Exchange, the company stated that June 22, 2016, was the last day of trading.
NGE announced on April 21 that the Company had been listed on POMSoX since mid-2008. Over this period, there has been minimal trading on POMSoX to warrant further administrative costs to be incurred by the Company, which could be utilised in other aspects of the business.
“NGE shareholders who have decided to continue to hold their shares will be administered by the current share registrar in Australia, Boardroom Pty Limited. Following delisting, each shareholder will receive a new holding statement which will provide details of your new Security Reference Number (SRN) on the Australian register,” the market statement read.
NGE is an Australian company that has historically focused on oil and gas exploration in Papua New Guinea (PNG).
The company holds two onshore petroleum prospecting licenses (PPL) in Western Province.