Byron Energy Limited (AU:BYE) has released an update.
Byron Energy Limited is set to voluntarily delist from the Australian Securities Exchange (ASX) after the board concluded that the current share market valuation does not reflect the true value of the company’s oil and gas assets. The company believes that delisting will provide greater flexibility for strategic opportunities and capital raising, as the current share price has been an obstacle to securing fair investment terms. The delisting is subject to shareholder approval and a formal request has been submitted with a proposed delisting date of 17 July.
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