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i3 Energy PLC is an independent oil and gas company operating in the UK and Canada. With a focus on low-cost production and growth, i3 has a diversified portfolio in the Western Canadian Sedimentary Basin and appraisal assets in the North Sea. The company is committed to responsible corporate practices and ESG principles, aiming for long-term value creation through strategic acquisitions and asset optimization.
i3 Energy PLC, a UK-based company, has announced a significant change in its shareholder structure. Premier Miton Group has acquired or disposed of voting rights that crossed a 10% threshold, now holding 9.969796% of the voting rights attached to i3 Energy's shares. This change was reached on June 20, 2024, and the company was notified on June 21, 2024. Premier Miton Group, operating through various controlled undertakings, now holds 119,881,574 voting rights, representing 9.969796% of the total voting rights in i3 Energy PLC.
This information was disclosed as per the TR-1 standard form for notification of major holdings, and the details of the transaction were completed on June 21, 2024, in Guildford, UK.
i3 Energy PLC (AIM: I3E, TSX: ITE), an independent oil and gas company, announces an update regarding its proposed reduction of share capital. The reduction aims to boost retained earnings, enabling future dividends or share buybacks. This initiative requires approval from the High Court of England and Wales, with initial directions hearing held on June 12, 2024, and the final hearing expected on July 2, 2024. If confirmed, the capital reduction will take effect around July 3, 2024. The reduction will not alter the nominal value or number of shares, nor will it impact the underlying net assets of the company.
This step aims to provide flexibility for dividends and returning value to shareholders. However, the plan may face delays if the court imposes additional requirements for creditor protection. The Board reserves the right to abandon the reduction if conditions turn unfavorable.
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