Challenger Energy Group PLC (LON:CEG, OTCQB:BHSPF), the Atlantic margin focused energy company, has announced that its ordinary shares have been approved to trade on the OTCQB Venture Market in the United States, and will commence trading at market open today, under the ticker symbol “BHSPF”.
Trading of the Company’s ordinary shares on the OTCQB offers significant benefits to investors, including enhanced access to trading for U.S. investors and potentially greater liquidity due to a broader geographic pool of potential investors. By trading on the OTCQB, the Company will be able to engage directly with U.S. investors, ensuring that they have the same level of information and disclosure available as those in the United Kingdom, but through U.S.-facing platforms and portals. Additionally, the OTCQB trading facility will provide U.S. based investors with the ability to access the Company’s ordinary shares in U.S. dollars during U.S. market hours.
Trading of the Company’s shares on the OTCQB will not affect trading of the Company’s ordinary shares on AIM, which will continue under the symbol “CEG”, and no new ordinary shares have been issued through this process. The Company will continue to make all announcements and disclosures to the London Stock Exchange through the Regulatory News Service and is not subject to any Sarbanes-Oxley or US Securities and Exchange Commission reporting requirements.
Eytan Uliel, CEO of Challenger Energy Group, said:
“Since closing our farmout agreement with Chevron for the AREA OFF-1 block in Uruguay, we have seen a steady rise in interest in our company from North American investors – a natural development given the geographic location of our assets and the identity of our principal partner. Trading on the OTCQB is expected to enhance the Company’s visibility, broaden our reach, and drive greater engagement with US investors who are well placed to understand the significant upside value potential inherent in Challenger Energy at this time. Over the coming months we will be making full use of the benefits that come from being admitted to trading on the OTCQB, alongside our regular engagement activities within the UK.”
