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Diversified Gas & Oil PLC

Diversified Gas & Oil plans listing upgrade to LSE main market

“Our proposed move to the main market reflects the significant, successful growth of DGO since our February 2017 AIM IPO," said Rusty Hutson.

Diversified Gas & Oil PLC - Diversified Gas & Oil plans listing upgrade to LSE main market

Diversified Gas & Oil PLC (LON:DGOC) has revealed plans to move from AIM to the premium segment of London’s main market.

The company told investors it intends to make the move following the publication of its full-year results for this year, to be released during the first quarter of 2020.

As part of the preparations for the main market the company has completed a tender process to sign-up with a ‘big four’ accounting and auditing firms, for the fiscal year to end 31 December 2020.

It is presently undertaking a full review of all aspects of corporate governance, to ensure structures and practices are in line with standards expected of a Premium Listed company. 

"I am excited to announce we are officially progressing plans to pursue a move to the main market of the London Stock Exchange,” said Rusty Hutson, DGOC chief executive.

“Our proposed move to the main market reflects the significant, successful growth of DGO since our February 2017 AIM IPO, and further demonstrates our board's ambitions and commitment to continued enhancement of the company's governance structure for the benefit of all our stakeholders.”

Hutson, meanwhile, also updated on ongoing work to complete acquisitions: “We also continue progressing towards closing later this month several previously announced margin-enhancing acquisitions. With these additional debt-funded acquisitions in hand, we return our focus to de-levering the balance sheet to ensure we maintain strong liquidity."

Quick facts: Diversified Gas & Oil PLC

Price: £1.14

Market: AIM
Market Cap: £748.85 m
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