African Energy Resources Limited has announced that it has delisted from the the venture capital board of the Botswana Stock Exchange (BSE), after realising that it was not viable.
The company listed in October 2011, but it had 22 shareholders holding less than 0.3% of the shares on the issue.
“Whilst the Company continues to pursue the development of the Sese JV Coal and Power Project, the Directors formed the view that the administrative costs and related obligations associated with maintaining the BSE listing are no longer justifiable and shareholders subsequently voted in favour of a delisting from the BSE at the AGM on 22 November 2017, said the company in a press release on its website.
The delisting is expected to be completed on or about 16 February 2018 at which time shareholdings that remain on the BSE register will be transferred to the ASX Register.
