Caribbean and Atlantic margin focused oil and gas company Bahamas Petroleum has revealed that it has changed its name to Challenger Energy Group plc.
The development follows the passing of all resolutions at the company’s extraordinary general meeting on May 17, the business highlighted. The company said its ISIN (IM00B3NTV894) and SEDOL (B3NTV89) remain unchanged and confirmed that shareholdings will be unaffected by the change of name.
Challenger Energy said existing share certificates should be retained by shareholders holding ordinary shares in certificated form as they will remain valid for all purposes. The company’s new ticker is CEG and its website address has been updated reflect its name change.
“With the spud of the highly anticipated Saffron-2 appraisal well now just days away, we are pleased that in addition to the successful completion of our fundraising as announced on May 20, shareholders at the EGM supported all of our broader corporate reset objectives, including the change of name of the company to Challenger Energy, which has now taken effect,” Eytan Uliel, Challenger Energy’s chief executive officer designate, said in a company statement.
“As Challenger Energy, our immediate strategic priority is to drive production and cashflow growth, through intelligent management and deployment of our resources. Our change of name, and the broader corporate reset currently underway, is in support of this strategic priority, which we see as the lynchpin for shareholder value growth both in the near-term and in the years ahead,” Uliel added in the statement.
“All of us at Challenger Energy look forward to beginning the next chapter,” the company head went on to state.
Challenger Energy has a range of exploration, appraisal, development, and production assets and licenses located onshore in Trinidad and Tobago, Suriname, and offshore in the waters of The Bahamas and Uruguay, its website highlights. The company’s head office is located in the Isle of Man.
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