Brooge Energy Voluntarily Delists from Nasdaq

Core Viewpoint - Brooge Energy Limited intends to voluntarily delist its ordinary shares from the Nasdaq Capital Market and subsequently deregister with the SEC, citing the lack of an active trading market and the associated costs and regulatory burdens as key reasons for this decision [1][3]. Group 1: Delisting and Deregistration Process - The company plans to file a Form 25 with the SEC and Nasdaq around June 9, 2025, with the last day of quotation expected to be around June 19, 2025 [1]. - Following the delisting, Brooge Energy Limited will file a Form 15 with the SEC on or about June 19, 2025, to suspend its reporting obligations under the Exchange Act [2]. - The formal deregistration of the company's securities is expected to become effective 90 days after the filing of Form 15 [2]. Group 2: Reasons for Delisting - The decision for delisting and deregistration was made by the company's Board of Directors, based on a review of factors including the lack of an active trading market and the significant operating expenses related to compliance with SEC and Nasdaq requirements [3]. Group 3: Company Overview - Brooge Energy Limited is a Cayman Islands-based infrastructure provider engaged in Clean Petroleum Products, Biofuels, and Crude Oil storage services [4]. - The company operates through its subsidiary BPGIC FZE, located strategically outside the Strait of Hormuz at the Port of Fujairah in the UAE, differentiating itself with fast order processing, excellent customer service, and high accuracy blending services [4].