Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
San Leon Energy will hold an extraordinary general meeting (EGM) on 1 February at 3pm to consider certain resolutions that will decide where electronic settlement of trading in the company's shares occurs.
This change is a consequence of the end of the transition period Brexit and will not alter where San Leon shares are listed or traded, and affects all Irish companies whose securities are listed and traded in London.
Following Brexit, the settlement system needs to move from CREST in London to Euroclear Bank in Belgium and migration will likely occur on 15 March 2021. However, if the resolutions proposed for the EGM are passed, the company's shares will continue to trade on AIM in London.
In economic terms, shareholders' interest in their shares is largely unaffected by migration but there are some technical changes to how their interest is held.