Pan Pacific Petroleum applies to delist from NZX, will stay on ASX

Pan Pacific Petroleum has applied for voluntary delisting from the NZX due to low trading volumes, though it will stay on the ASX.

"The company has been listed on NZX since January 2002, however over the last six month period there has been minimal trading on NZX to warrant further administrative costs to be incurred by the company which could be utilised in other aspects of the business," it said in a statement to the NZX.

PPP has proposed its last trading day be Oct. 13, and said shareholders would be able to sell their shares on market or have them transferred to the Australian register. 

Shares of PPP last traded at 3 cents on the NZX and have dropped 18 percent this year.

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

PGW Guidance Update
CNU - Commerce Commission releases draft expenditure decision
Spark announces departure of Product Director
TGG - T&G appoints new Director
April 18th Morning Report
SKC - APPOINTMENT OF CHIEF EXECUTIVE OFFICER
Devon Funds Morning Note - 17 April 2024
Consultation opens on a digital currency for New Zealand
TWL - TradeWindow's $2.2 million capital raise now unconditional
April 17th Morning Report