23 Jan 2014 07:00
23 January 2014
Beacon Hill Resources Plc / AIM: BHR / ASX: BHU / Sector: Mining
Beacon Hill Resources Plc ('Beacon Hill' or 'the Company')
Voluntary Delisting from the Australian Securities Exchange
Beacon Hill Resources Plc today announces that its securities will cease trading on the Australian Securities Exchange ('ASX') from 4pm Australian Eastern Standard Time today, 23 January 2014.
As announced on 19 September 2013, the Company applied to the ASX and was subsequently given approval to be removed from the ASX official list. The ASX has confirmed that Beacon Hill securities will be delisted from the ASX and therefore no longer be traded on the ASX after the close of trading on 23 January 2014 ('the Delisting Date').
No change will occur to the quotation and trading of Beacon Hill shares on the Alternative Investment Market (AIM).
Rowan Karstel, CEO commented:
"For the most part, our traded volume and liquidity is on the London Exchange where we have our primary listing. With only 0.34 per cent of the Company's shares held on the secondary Australian register, the Board concluded that the ongoing maintenance costs of the ASX listing were not justifiable as we seek to reduce our administrative costs."
Following the delisting from ASX, the Australian share register will be closed.
Implications for holders on the Australian register
Shareholders participating in the share sale facility who are yet to have had their shares sold following the Delisting Date will now have their shares offered for sale on AIM with the proceeds distributed on completion.
All other holders of CHESS Depository Interests ('CDIs') will have their CDI's converted into Ordinary Shares on AIM on or around the Delisting Date and physical share certificates will be issued from Capita Registrars Limited. Following delisting, for a period of up to 3 months, an investor may instruct their existing broker to provide an instruction to Canaccord Genuity (Australia) Limited to sell their Ordinary Shares on AIM for cash. Note that 1 CDI on the ASX is equivalent to 2 Ordinary Shares on AIM.
For additional details please contact Boardroom Pty Limited:
Contact Details
Boardroom Pty Limited
Contact: David Parkinson
Email: david.parkinson@boardroomlimited.com
Phone: +61 (0) 2 9290 9621
**ENDS**
For further information, please contact: | |
Beacon Hill Resources Plc | |
Justin Farr-Jones, Chairman (jfarr-jones@bhrplc.com) Rowan Karstel, Chief Executive Officer (rowan.karstel@bhrplc.com) | |
Canaccord Genuity Limited (Nominated Adviser and Broker) Neil Elliot / Joe Weaving |
+44 20 7523 8000 |
St Brides Media & Finance Limited (Financial Public Relations) Susie Geliher / Elisabeth Cowell |
+44 20 7236 1177 |