SolGold PLC: Cancellation of trading on AIM
LONDON, UNITED KINGDOM--(Marketwired - Jul 21, 2017) - SolGold plc (TSX: SOLG)
| TSX: SOLG | |
| 21 July 2017 |
SolGold plc
("SolGold" or the "Company")
Notification of proposed admission to the Main Market and cancellation of trading on AIM
The Board of SolGold today announces its intention to apply for admission to listing of its ordinary shares (the "Ordinary Shares") on the standard listing segment of the Official List of the UK Listing Authority (the "Official List") and admission to trading on London Stock Exchange plc's (the "London Stock Exchange") main market (the "Main Market") for listed securities (together, "Admission"). Pursuant to Rule 41 of the AIM Rules for Companies, the Company hereby gives notice of the intended cancellation of trading of its Ordinary Shares on the AIM market of the London Stock Exchange ("AIM")
The Board believes that a standard listing, together with its recent TSX listing, will support the long-term strategy of the Company by providing the Company with a more appropriate platform for its growth and its market capitalisation, which as of the date of this announcement is in excess of £550 million. In addition, the Board believes that Admission will raise the Company's global profile, increase its trading liquidity and provide the Company with a greater range of potential investors for its ordinary shares.
Admission will be through an introduction of the existing Ordinary Shares. The Company will not be issuing new shares in conjunction with the proposed Admission or the publication of the related prospectus. It is expected that the Company will publish its prospectus in connection with Admission on or around 18 August 2017 and it is anticipated that the Ordinary Shares will be admitted to the Official List, commence trading on the Main Market and simultaneously trading will be cancelled on AIM at 8 am on 21 August 2017 (being at least 20 business days after this announcement), subject to the receipt of the necessary approvals from the UK Listing Authority and the London Stock Exchange. The Company's shares will continue to be registered with their existing ISIN number GB00B0WD0R35 and SEDOL number B0WD0R3. The Company's ticker symbol will continue to be SOLG. The prospectus will, when issued, be made available on the Company's website at www.solgold.com.au
The Company's existing shareholders should consult their own tax advisers as to the tax implications of the Company's proposed move to the Main Market.
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