CALGARY, Alberta Feb 22 Heritage Oil Corp
HOC.TO said on Friday it plans a corporate reorganization
that will move its head office to Jersey, in the Channel
Islands, from Calgary, Alberta, in an effort to boost its
profile with European investors.
The company, which explores for oil in Africa, Iraq, Russia
and elsewhere, said it will change its name to Heritage Oil
Ltd, delist its Toronto Stock Exchange shares and seek to list
its shares on the London Stock Exchange.
The existing shares will be split 10-for-1 after the LSE
move, Heritage said in a release.
The company said it believes the move will raise its status
among European investors and the international oil and gas
sector, and increase the liquidity of its stock.
A shareholders meeting will be held next month to seek
approval of the switch.
Heritage shares fell 15 Canadian cents to C$41.95 on the
Toronto Stock Exchange on Friday. The stock has gained 25
percent over the past 12 months.
(Reporting by Scott Haggett; Editing by Peter Galloway)