Strategic Shift of Diversified Energy Company
Diversified Energy Company PLC (“Diversified” or the "Company") is making significant changes aimed at enhancing its market presence. The company has outlined its intention to transition its primary stock listing to the New York Stock Exchange (NYSE) while maintaining a secondary listing on the London Stock Exchange (LSE).
Details of the Proposed Change
The announcement, made on September 30, indicates that this transition will be facilitated through a UK scheme of arrangement. This is an important step as it involves the establishment of a new US entity—referred to as “NewCo”—to serve as the ultimate parent holding company over Diversified. The upcoming transaction is aimed at optimizing the company’s structure for future growth and success.
Shareholder Meetings and Circular Publication
As part of this transition, Diversified has released a circular that contains vital information regarding the upcoming shareholder meetings. This document, known as the “Circular,” provides detailed insights into the proposed transaction and specifies the agenda of the shareholder meetings. These Meetings are pivotal for determining the future direction of the company, as shareholder approval is required for various aspects of the planned transformation.
Accessing the Circular
The Circular is accessible to all stakeholders on Diversified's official website within its Investors section. It is also in the process of being submitted to the National Storage Mechanism, ensuring that it can be inspected by interested parties. The company encourages shareholders to review this document thoroughly, as it outlines all necessary information regarding the transaction.
Timeline of Events
Assuming all resolutions are passed during the Meetings and the required court and regulatory approvals are obtained, the scheme is projected to become effective around November 21. Following this, shares of NewCo are expected to be listed on the NYSE, and its admission to the LSE’s Official List is anticipated to occur on or around November 24. This dual listing strategy aims to enhance visibility and liquidity for investors.
Contact Information
For further details, stakeholders and interested parties can reach out to:
Diversified Energy Company PLC
Phone: +1 973 856 2757
Doug Kris
Senior Vice President, Investor Relations & Corporate Communications
Email: dkris@dgoc.com
FTI Consulting
Email: dec@fticonsulting.com
U.S. & UK Financial Public Relations
About Diversified Energy Company
Diversified is recognized as a prominent publicly traded energy company, primarily focusing on the production, transport, marketing, and retirement of natural gas and liquids. Through a unique strategy, Diversified acquires mature, long-life energy assets and enhances their environmental and operational performance before securely retiring them. The company has been acknowledged for its leadership in sustainability, emphasizing its commitment to responsible energy production and generating considerable shareholder value.
Frequently Asked Questions
What is the main goal of Diversified's proposed change?
The main goal is to shift its primary listing to the NYSE to enhance market presence and provide better access to capital for growth.
When is the shareholder meeting expected to take place?
The exact date of the shareholder meeting will be announced in the Circular, where important resolutions regarding the transition will be discussed.
What benefits does Diversified anticipate from this transition?
Diversified expects improved visibility, liquidity for its shares, and better alignment with its strategic goals in the U.S. market.
How can shareholders access the Circular?
Shareholders can view the Circular on Diversified's official website in the Investors section.
Who can be contacted for more information regarding this transition?
Contact Doug Kris, Senior Vice President of Investor Relations, via phone at +1 973 856 2757 or through email at dkris@dgoc.com for more information.
