Calima Energy's strategic moves

Calima Energy (ASX:CE1) is preparing to delist from the Australian Securities Exchange by December 18, 2024. The company is actively restructuring its capital and asset portfolio through buy-back initiatives and asset sales, including a significant transaction involving the sale of Calima Energy Inc for A$1.3 million.

Calima Energy's strategic outlook

Calima Energy is set to delist from the ASX, targeting December 18, 2024, as the date for its departure. The company is determined to enhance shareholder value through strategic buy-backs and asset sales. Key transactions include the sale of Calima Energy Inc and the repurchase of millions of shares. With substantial cash reserves of $7,022,000, Calima Energy projects that it has sufficient funding for the next 20 quarters. The strategy is firmly focused on realigning the company's asset portfolio and managing shareholder equity effectively. The management, led by Executive Chairman Glenn Whiddon, is committed to navigating through this strategic transition smoothly.

Executive insights on company strategy

Calima Energy has completed its first equal access buy-back and is in the process of the second, aiming to repurchase up to 316,718,010 shares by December 2, 2024. This initiative underscores our commitment to returning value to shareholders as we prepare for delisting.