Diversified Gas & Oil PLC (LON:DGOC) has confirmed it is advancing its planned promotion onto the premium segment of the London Stock Exchange next month.
In a statement, the company told investors that its shares will make the switch from AIM soon, with the re-admission date set for May 18.
DGOC said its new listing will potentially improve liquidity and the valuation of its shares, and, noted that a larger number of institutional investors that regularly trade ‘main market’ shares.
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Moreover, it said the move will lift its profile in the UK and internationally, and will help it attract new investors.
Whilst describing the 2017 float onto AIM as a “springboard”, DGOC chief executive Rusty Hutson pointed out that the company was able to land some US$1.5bn of acquisitions and has established itself as one of the largest independent producers in London.
"We believe the move to the Main Market is the natural next step in the company's evolution and reflects DGO's progressive growth and strategic ambitions,” Hutson said.
“In the current challenging times, our cash-flow-centric message and disciplined investment thesis stands out as unique in the sector.
“We believe our focus on low-risk cash flow and unwavering commitment to shareholder returns in the form of reliable dividends sets us apart from our peers and will resonate with a broader investor audience as we continue to prudently grow the business and expand our track record of value creation on the Main Market," he added.