New Concept Energy: Stock doubles on change of control

New Concept Energy

28/06/2018 12:53

** Shares of New Concept Energy  GBR.A  more than double in
premarket trading and is the 3rd most heavily traded stock
    ** Realty Advisors Inc discloses a 2.8 pct stake in the
Dallas-based oil and gas company, a SEC filing shows
    ** Filing adds that RAI and GBR on May 22 agreed that RAI
would buy 3 mln new GBR shares, subject to shareholder approval,
to get a roughly 59 pct stake in the company
    ** GBR last up ~99 pct, with trading volumes of ~340k shares
roughly 2.3x their 25-day moving avg
    ** Through Wed, the stock was down ~9 pct this year, adding
to a ~28 pct drop last year

 (Reporting by Savio D'Souza)
 ((RM:savio.dsouza.thomsonreuters.com@reuters.net))