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Anglesey Mining PLC - London-based mining company with operations in north Wales, Sweden & Canada - On Friday, announces intention to trade on AIM, and cancel admission of shares to premium segment of official list, and trading LSE Main Market. Says AIM provides a "more flexible regulatory regime" which is better suited to its goals to develop its Parys Mountain mine in Wales. Delisting will require 75% shareholder approval at a general meeting to be convened on March 8.
"The AIM market is now an internationally recognised market which has an established reputation for growth companies. We believe the proposed move to AIM is now appropriate and will ultimately provide Anglesey Mining with greater flexibility over corporate and financing transactions, and also provide potential tax benefits to investors,” said Chair John F. Kearney.
Current stock price: 3.63 pence, down 4.4% on Monday
12-month change: down 42%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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