Regal fined, censured for breach of AIM rules in 2003-2005

Regal Petroleum (RPT LN) incurred a financial penalty of GBP 600,000 and was publicly censured following a decision by the AIM Disciplinary Committee announced this morning. The sanctions for breaches of AIM rules relate to company notifications in 2003-2005 regarding the Kallirachi prospect that were misleading, over-optimistic and inaccurate. Regal, in response, said the decision did not suggest any wrongdoing by current management and, though disappointed with the outcome, was ready to now focus its resources entirely on development.