Berkeley Eng Regulatory News (BKY)

BERKELEY ENERGIA LIMITED

NEWS RELEASE | 2 May 2018 | AIM/ASX: BKY

Intention to list on the Main Board of the London Stock Exchange and on the Spanish Stock Exchanges

Berkeley Energia Limited ("Berkeley" or "Company") is pleased to announce it intends to apply for admission of its ordinary shares ("Shares"): (i) to the standard listing segment of the Official List of the UK Financial Conduct Authority ("FCA") and to the London Stock Exchange ("LSE") for trading on its main market for listed securities (together "LSE Admission") and (ii) to the Spanish Stock Exchanges of Madrid, Barcelona, Bilbao and Valencia ("Spanish Stock Exchanges") (together the "Admissions"). Pursuant to Rule 41 of the AIM Rules for Companies, the Company hereby gives notice of the intended cancellation of trading of its Ordinary Shares on the AIM market of the London Stock Exchange ("AIM").

Given the geographic location of the Company's Salamanca project in Europe and the size and maturity of the Company and its operations, the Directors consider that a listing on both the Main Board LSE and the Spanish Stock Exchanges is appropriate to provide the Company with options for its future growth potential. The Directors believe that such listings will provide increased liquidity for its investor base and provide access to significant new pools of capital including large Spanish institutional shareholders, mutual funds and pension funds as well as retail shareholders in Europe, many of which could not be accessed previously. Furthermore, the listings are expected to deliver a higher profile for the Company in European markets, including the potential for local Spanish ownership of the Company's shares which is considered an important strategic consideration.

Managing Director, Paul Atherley, commented: 

"Our decision to list on the Main Board LSE and Spanish Stock Exchanges represents a major strategic move forward for the Company.

It will allow us to build support amongst European institutional investors whilst we advance activities on site.

We are immensely proud of the work by the team in Spain which is developing the mine to world's highest environmental standards potentially creating over 450 direct jobs and rejuvenating a local community badly hit by long term unemployment.

We are grateful for the strong support we have from the regional government and from the broader community reflecting the growing awareness of the benefits the investment by Berkeley is bringing to the region."

This announcement is for information purposes only and is not a prospectus. Investors should not subscribe for or purchase any transferable securities referred to in this announcement except on the basis of information in the prospectus intended to be published by the Company (and together with its subsidiaries, the "Group") in due course in connection with the proposed admission of its ordinary shares to the standard listing segment of the Official List of the FCA and to trading on the Main Market for listed securities of the London Stock Exchange. Copies of the prospectus will, following publication, be available for inspection from the Company's registered office and from the Company's website www.berkeleyenergia.com

The Company's existing listing on the Australian Securities Exchange ("ASX") will remain unchanged. Berkeley's shares (or depository interests representing shares) will be transferable between the ASX, LSE and the Spanish Stock Exchanges.

It is expected that the Company will publish a prospectus in connection with the Admissions on or around 30 May 2018 and that, subject to the receipt of the necessary approvals from the FCA, the Shares will be admitted to the Official List and commence trading on the Main Market and Spanish Stock Exchanges on or around the 6 or 7 June 2018. Simultaneously trading will be cancelled on AIM (being at least 20 business days after this announcement). The Company's shares will continue to be registered with their existing ISIN number AU000000BKY0 and SEDOL number B1KZDW4. The Company's ticker symbol will continue to be BKY. The prospectus will, when issued, be made available on the Company's website at www.berkeleyenergia.com.

Berkeley does not intend to undertake a public offering in connection with the Admissions.

The Admissions mark another important step for the Company as it continues with activities at the Salamanca project. Following an investment of up to US$120m from the Oman sovereign wealth fund last year, the Company is now funded for upfront capital costs as it proceeds with activities at the Salamanca project.

The decision to simultaneously list the Company in Spain reinforces Berkeley's long term commitment to the country and the investment it is making there, which is expected to create over 2,500 direct and indirect jobs in a region that has suffered from some of the highest levels of unemployment in the European Union.

The Company's existing shareholders should consult their own tax advisers as to the tax implications of the Company's proposed move to the Main Market.

Further announcements will be made in due course.

For further information please contact:

Important notice

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation ("MAR"). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain. 

Forward Looking Statements

Statements regarding plans with respect to Berkeley's mineral properties are forward-looking statements. There can be no assurance that Berkeley's plans for development of its mineral properties will proceed as currently expected. There can also be no assurance that Berkeley will be able to confirm the presence of additional mineral deposits, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of Berkeley mineral properties. These forward-looking statements are based on Berkeley's expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Berkeley, which could cause actual results to differ materially from such statements. Berkeley makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of that announcement.