As background, on 25 October 2017 Lb-shell plc (formerly Intelligent Energy Holdings plc) (“the Company”) which is listed on the Main Market of the London Stock Exchange, issued an RNS announcement setting out a fundamental restructuring of its business headed:
Intelligent Energy Holdings plc: sale of business, intention to delist and wind down of IEH plc, repayment (as to 65% of principal), and cancellation of, convertible loan notes.
Inter alia, in this announcement the board of the Company announced the decision to sell its business and assets, including that of its principal subsidiary Intelligent Energy Limited, to Meditor Energy Limited. The sale left the Company as a non-trading company and the Company will shortly arrange for the cancellation of the listing of its ordinary shares. The Company’s remaining cash (which is limited) will be used in the orderly winding down or dissolution or the Company. The Directors of the Company are therefore of the view that there is no remaining value in the ordinary shares of the Company.
On 2 November 2017 the Company announced that it had changed its name to Lb-shell plc, LB-Shell PLC is listed as the following LSE:LBP