viewSDX Energy Inc

SDX Energy completes re-domicile transaction to become UK company

The efforts remove the cost of maintaining a listing in Canada and potentially makes it easier for certain investors to buy its shares.

London Stock Exchange
The SDX management is based in London and its assets are in North Africa

The company formerly known as SDX Energy Inc has confirmed the completion of its re-domicile transaction which saw an exchange of shares and a subtle renaming to SDX Energy plc (LON:SDX).

Though the transaction had several moving parts the outcome is quite simple – the company is now deemed to be a British company and its shares have been concurrently delisted from the Toronto venture exchange.

READ: SDX Energy water cut issues dilute otherwise positive quarter

The company’s management team is based in London and its assets are in North Africa. Earlier this year, SDX told investors that the benefits of maintaining a dual listing and retaining its Canadian domicile status didn’t justify the additional costs.

In April, SDX noted that there’s a lack of interest among Canadian institutions, meanwhile, it believes the formal move to the UK will help further raise its profile, and, it added that certain types of investors in London and Europe are unable to invest in non-UK domiciled companies.

Earlier this month, the company announced management changes as former chief executive Paul Welch stepped down, replaced on an interim basis by chief financial officer Mark Reid.

A quarterly update meanwhile showed production amounted to 3,715 barrels of oil equivalent per day (boepd), up 22% compared to the same period in 2018, thanks to additional wells in Egypt and higher gas sales in Morocco.

Quarter-on-quarter comparatives, however, showed a 5% decline in output as a result of a higher water cut in wells at the North West Gemsa field.

Quick facts: SDX Energy Inc

Price: 16.75 GBX

Market: AIM
Market Cap: £34.4 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of SDX Energy Inc named herein, including the promotion by the Company of SDX Energy Inc in any Content on the Site, the Company receives from...


SDX Energy sets timeline for TSX delisting and provides update on South Disouq

SDX Energy (CVE:SDX-LON:SDX) President and CEO Paul Welch joined Proactive Investors Steve Darling on Skype to update the timing of their delisting from the Toronto Stock Exchange and solely list on the AIM market in London. Welch also providing Proactive with an update on their South...

on 8/4/19

2 min read