Trinity Exploration says court approves creditors' proposal

Trinity Exploration & Production said Trinidad and Tobago Court has approved the Creditors' Proposal and this will now be implemented in full.

"Alongside this, as part of the Restructuring, the Company has applied to the London Stock Exchange for the 187,600,000 New Ordinary Shares, which form the Placing and Subscription, to be admitted to trading on AIM on 11 January 2017," the company said.

On 13 July, 2016, the Company requested that trading in its ordinary shares be suspended, pending clarification of its financial position.

Now that the Creditors Proposal has received Court approval and with the Fundraising due to complete on 11 January 2017 (subject to admission of the 187,600,000 New Ordinary Shares to be issued under the Placing and Subscription to trading on AIM); following clarification of its financial position the Company has requested that the suspension in trading in its shares be lifted with effect from 07.30a.m. on 11 January 2017.