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Carpathian Resources

  • BY: Andrew Hore |
  • POSTED: 26/10/2008 |

Carpathian Resources Ltd is dropping its Aim quotation.

The explorer for oil and gas in central Europe will maintain its home listing on the ASX.

The company does not feel the additional cost and management time related to the Aim quotation is not worthwhile. 

The company’s registrar Computershare will be writing to shareholders to inform them of the process that will change their existing stake into Australian registered shares. This process will happen automatically.

The shares slumped 0.625p to 1.625p each - the bid/offer spread is 1.25p/2p.

Revenues fell from $2.75m to $2.35m in the year to June 2008. The cost of being quoted on Aim rose from $132,000 to $170,000. The overall loss jumped from $2.27m to $4.16m.

The quotation is expected to be cancelled on 8 December 2008.

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