RMP Delisting23 Apr 2021 16:04
I just received the following form my broker:
Red Emperor Resources has announced details of a proposed delisting from AIM. This means that the shares will stop trading on the stock exchange.
The company intends to cancel its admission to trading with effect from 19 May 2021. You may continue to buy and sell shares up until this date.
It is currently intended that re-admission to trading on AIM for the enlarged entity will then be sought as soon as practicable (targeting July 2021) following successful completion of the proposed acquisition of Northern Palladium Pty Ltd and capital raising on the ASX in order to restore the enlarged entity's dual listing at the earliest opportunity.
The UK Depositary Interest facility will not be terminated. DI holders who wish to have shares issued to them on the Australian share register, can request the withdrawal of their DI?s. The shares will then be tradeable on the ASX.
To view the announcement in full, please copy the link below and paste into your web browser:
https://www.londonstockexchange.com/news-article/RMP/director-appointments-notice-of-aim-cancellation/14943662
ISA holders should note that following the delisting, the shares will no longer be ISA eligible. Any ISA-holders who have not sold or otherwise moved their shares by the delisting date must transfer the holding out of their ISA within 30 days of cancellation.
SIPP holders should note that unlisted shares are not SIPP eligible. Unlisted shares will be displayed within your portfolio at cost and will not be revalued except where this is required in relation to their holding within a registered pension scheme, i.e. at benefit crystallisation events, reviews and pension transfers (subject to change). In these circumstances, it may prove difficult to value the unlisted shares and, should this be the case, we reserve the right to commission a valuation and charge your SIPP for it.
There may be a limited market or no market at all in the ineligible shares following the cancellation, and sales may require the use of specialist market makers. We accept no liability for the illiquidity of the unlisted shares and reserve the right to pass on any charges we incur in their sale.
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