Pile of crock31 Jan 2018 11:53
Withdrawal from NEX Exchange Growth Market
The Company is currently dual listed on both the Australian Securities Exchange (ASX) (being its primary listing) operated by ASX Limited and the NEX Exchange Growth Market (NEX) with CHESS Depositary Interests (over underlying ordinary shares in the Company) (CDIs) quoted on ASX and its ordinary shares traded on NEX.
Doriemus would like to update the market that today, it has submitted a request to NEX that its ordinary shares be withdrawn from trading on NEX, with such withdrawal to take effect as of market close on 1 March 2018 (Withdrawal Date).
The Company was admitted to the Official List of ASX on 29 December 2017. The Company notes that since its admission to the ASX, there has been sufficient liquidity alone on ASX to justify the withdrawal of its securities from NEX. The trading volumes on NEX have been similar to those of the ASX over recent days and weeks, however, the Company, being a small-cap company with a current market capitalisation of approximately �5.8m, does not believe the costs in maintaining a dual listing is justified at this time.
The ASX is a Qualifying Market under the NEX Exchange Growth Market Rules for Issuers and therefore there is no requirement for Shareholders to vote on a resolution to withdraw the Companys ordinary shares from NEX.
Converting Shares tradable on the NEX Exchange to CDIs tradable on the ASX
If holders of ordinary shares wish to convert their ordinary shares to CDls to settle trades on ASX, they can do so by contacting the Company's UK Share Registry, Computershare Investor Services PLC (Computershare UK), on +44 (0)370 889 3129 during 9.00 a.m. to 5.00 p.m. on any London business day. Holders of ordinary shares will, in summary, be asked to undertake one of the following processes:
a. Where ordinary shares are held in certificated form, a paper form, titled UK-AUS CDI Issuance, will be issued and will need to be completed and returned by post to Computershare along with the relevant original share certificates, representing the ordinary shares to be transferred to CHESS Depositary Nominee Pty Limited (CDN) to enable the issuance of CDIs to occur.
b. Where ordinary shares are held in uncertificated form (that is through CREST), an online form will need to be issued and a corresponding CREST stock withdrawal transaction completed within the CREST system.
In both cases, where valid instructions have been received, the ordinary shares will be transferred to CDN and CDIs will be issued to the specified CHESS or issuer sponsored account in Australia by the Companys Australian Registry, Computershare Investor Services Pty Limited (Computershare AU). It is expected that this process will be completed within 24 hours, provided that Computershare UK is in receipt of a duly completed and valid removal request instruction. However, no guarantee can be given about the time required for this conversion to take place. Once the securities are h