Dart International to List on AIM, Australia

Dart International to List on AIM

Dart Energy Limited announced that its wholly owned subsidiary, Dart Energy International has announced an Intention to List by way of Admission of ordinary shares in the capital of Dart International to the AIM Market of the London Stock Exchange.

Concurrently with the Admission, Dart International will be seeking to raise new capital.

The Admission is expected to be completed in November 2012. Post Admission, DTE will remain a majority shareholder of Dart International and be represented on the Dart International Board. The companies will continue to share key technical and operational expertise under a Transition Services Agreement ensuring that both the Australian and International businesses have access to the best available technical expertise.

Commenting, Nick Davies, Chairman of DTE said: “The proposed listing on AIM of Dart International is about unlocking the embedded value of DTE’s international assets. The listing will also provide greater transparency of the value of both Dart’s Australian assets and our international portfolio.

“A separate listing of the international assets will ensure Dart International is fully funded through the next phase of development. A separately listed international vehicle will also mean the DTE Australian management team can focus its attention on the Australian business, which we believe has exciting prospects.”

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LNG World News Staff, September 20, 2012