Advance Energy PLC (AIM:ADV) has confirmed its name change to Beacon Energy Plc and told investors it continues its efforts to complete a reverse takeover (RTO) acquisition.
The company, which has had its shares suspended since 9 September, has been working to be in a position to publish its AIM admission document for the potential RTO transaction.
"We felt it was appropriate to change the company's name to reflect our forward looking objectives which are underpinned by a focused strategy and supportive market dynamics,” said interim chief executive Larry Bottomley.
“The change of name has been delivered in a very cost effective manner and gives the company a new identity through which we hope to deliver long-term value for our shareholders. We look forward to providing an update on the potential acquisition in due course."