The Board of Directors of Liquefied Natural Gas Ltd has resolved to suspend all activity related to the redomicile of the company to the US in order to focus on current business.
LNGL’s Managing Director and Chief Executive Officer, Greg Vesey, said: “The Board’s decision allows management to maintain its focus on marketing the offtake at Magnolia LNG and Bear Head LNG, to concentrate on opportunities to create additional long-term value for LNGL shareholders, and to strengthen liquidity. The Board and the company’s management team are continuing to monitor market conditions to potentially re-engage on the redomiciling efforts at an optimal time for the company and its shareholders.”
“We remain committed to bringing the Company to the US market at an appropriate time best suited to maximize investor value,” added Paul Cavicchi, Chairman of LNG Limited. “A US listing is the right step for LNGL, but we must ensure we proceed deliberately and remain attentive to all shareholder expectations.”
Read the article online at: https://www.energyglobal.com/downstream/gas-processing/06102017/lng-limited-pauses-redomiciling-activity/