Global Energy Development to change name to Nautilus Marine Services

8th Feb 2017 11:08

(ShareCast News) - Oil company Global Energy Development's shares climbed on Wednesday following confirmation that it will change its name to Nautilus Marine Services, as well as buy 11 offshore subsea service vessels and a barge vessel.The AIM-listed company said that it gained approval for the name change and acquisitions from shareholders at a meeting.In order to facilitate the name change its shared will be cease trading on AIM and be re-admitted on Thursday.The new name has been registered at Companies House and it ticker will be changed to NAUT, effective on re-admission to AIM.Following admission, the company will have 36.11m shares in issue with voting rights and none held in treasury.Shares in Global Energy Development were up 16.8% to 14.60p at 1122 GMT.

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