Exploration group Ennex International is to take a listing on London's Alternative Investment Market to add to the company's existing listing on the ESM market in Dublin.
Confirmation of plans for an AIM listing came with an announcement that Ennex is proceeding with the acquisition of Petroceltic, the company which holds a near 25 per cent stake in the Marathon gas royalty in the Celtic Sea. Ennex is also buying Ariam, a company which has a 2.85 per cent stake in two licences offshore the Faroe Islands. The combined consideration is £2.34 million (€3 million) payable through the issue of 78 million Ennex shares.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)