Fladgate advises on the readmission to AIM of New World Oil and Gas plc

Our team: Grant Gordon

Fladgate LLP has advised the nominated advisor, Beaumont Cornish Limited and the broker, Shore Capital Stockbrokers Limited, on the readmission to AIM of New World Oil and Gas plc (New World).

On 3 July 2012, New World announced its intention to commence drilling in Belize and to change its status from an investing company to an operating resource company. This election is classified a reverse takeover of the Company under the AIM Rules and therefore requires the approval of New World’s shareholders.

Subject to the approval of its shareholders, which will be sought at an AGM convened for 24 July 2012, New World’s ordinary shares will be readmitted to AIM on 25 July 2012.

Fladgate advised Shore Capital and Beaumont Cornish on New World’s admission to AIM in May 2011 and a subsequent secondary placing in July 2011.

Fladgate corporate partner Grant Gordon advised Beaumont Cornish and Shore Capital.

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