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Afternoon KB. From what I understand it is basically a paper exercise to satisfy ASX requirements. Long term holders unlikely to sell but could if they wanted to. It paves the way at some point for a capital raise on the ASX to provide liquidity and satisfy ASX investor demand. I presume at some point the ASX listing will become the primary listing for MTR. Then a question mark on the future of the AIM listing? Cost etc..... But that will be some way down the road.
Correct CK.
25 To 30% ?
I Suspect The Terry Grammer Estate Will Transfer ! Maybe Sprott Too ! Illaquens And A Few International Investors To Boot !
I suppose is doesn’t really matter as the shares will be sold only if there is willing buyers. So it’s just transferring shares and widening the register.
As compared to the opposite which would be issuing new shares and diluting everyone.
That is the point I don’t understand - do the investors have to sell their shares or by having a portion of shares on ASX allow trading without them selling with gradual shares being transferred over from sell on LSE to fill those orders. I know when MOD listed they transferred the shares over from the ASX exchange .
Thanks Doc, but why would the large holders transfer their shares to be sold on the ASX. What's in it for them or do they just want out anyway but don't sell here for fear of trashing the SP?
No. Larger holders have been approached to transfer their LSE shares onto the ASX that is where the liquidity will come from as opposed to new shares
Good morning all. So, Illaquens, does MTR have to issue new shares to cover these CDis? I just don't understand how investors on the ASX are going to be able to buy shares when all the shares here are either in the hands of investors already or held by MMs here. I need an idiots guide!
Ricardofin, to comply with compliance listing regulations. MTR have to have 5 to 10% of their issued share capital transferred in the form of CDIs to the ASX. So I would agree sometime in March probably towards the end.
I have heard it might be mid March, but nothing definite.
Any updates on when the ASX listing is expected in March?