SGZ.L Share News (SGZ)

(ShareCast News) - AIM listed miner Scotgold Resources will de-list from the Australian Stock Exchange (ASX) on 21 October in a bid to consolidate securities trading and save costs.The gold and silver miner is to de-list due to its limited trading volume on ASX, as over the past six months about 98% of trading securities occurred on the London Stock Exchange's AIM market and about 87% of the securities in Scotgold are held by UK residents or already registered as depository interests on AIM.The de-listing will reduce costs and management time, as well as consolidate trading onto one market which is beneficial to its UK-based management team.The company will officially de-list at 4pm (Sydney time) on 21 October and the last day of trading will be on 19 October.Scotgold's securities will remain tradable as depository interests on AIM under the SGZ code and Australian shareholders will be able to transfer their shares to depository interests on AIM.There will be no change to the quotation and trading on AIM.Shares in Scotgold were down 13.85% to 0.560p at 1229 BST.