Petra Diamonds Regulatory News (PDL)

7 Dec 2006 07:01

Petra Diamonds Ld07 December 2006 Petra Diamonds Limited Removal from ASX Official List Petra Diamonds Limited ('Petra' or 'the Company'), the AIM-quoted and ASX-listeddiamond group, announces that it has applied to ASX under Listing Rule 17.11 forPetra to be removed from the ASX official list. Petra applied to be removed forthe following reasons. • Petra's primary listing is on the Alternative InvestmentMarket of the London Stock Exchange ('AIM'); • Petra's Australian share register accounts forapproximately 11.9% of the total ordinary shares Petra has on issue; and • Petra's view is that the administration and related costs(including ASX reporting requirements, listing fees and associated professionaladviser fees) of maintaining a secondary listing on ASX outweigh the benefits toshareholders of the listing. ASX has advised Petra that it will be removed from the ASX official list if itcomplies with the following conditions: • Release of this announcement to the market; • Provision of a letter to shareholders on Petra'sAustralian share register ('Australian Shareholders') informing them of Petra'sintention to seek removal from the official list and of a facility forAustralian Shareholders to sell their Petra shares on AIM; and • Provision of a facility for Australian Shareholders tosell their Petra shares on AIM through an ASX participating organisation for aperiod of not less than 6 months after the removal of Petra from the ASXofficial list. Petra will be removed from the ASX official list on 7 March 2007, which is 3months after the date of this announcement. Prior to 7 March 2007, trading inPetra shares will continue on an uninterrupted basis on both AIM and ASX. From7 March 2007, Petra shares will be quoted on AIM only. On 7 March 2007, Australian Shareholders will have their electronic holdings onthe ASX register (maintained on Petra's behalf by Computershare) converted tocertificated holdings on the AIM register (maintained on Petra's behalf byCapita). This process will occur automatically and no action will be required byany Australian Shareholder. Australian Shareholders will then be issued with ashare certificate representing their total holding. This share certificateshould be kept in a safe place as it is evidence of the shareholding on the AIMregister. A letter will be sent to the Australian Shareholders shortly, advising them ofPetra's application for removal from the ASX official list and including detailsof the facilities for trading Petra shares on AIM. A copy of that letter isincluded as a footnote to this announcement. Ends For further information, please contact or visit www.petradiamonds.com Cathy Malins / Annabel Leather Telephone: +44 (0) 20 7493 3713Parkgreen Communications, London Note: Example of the letter to be sent by Petra to the Australian Shareholders. Dear Shareholder, Removal from ASX Official List Petra Diamonds Limited ('Petra') advises that it has applied to ASX underListing Rule 17.11 for Petra to be removed from the ASX official list. Petraapplied to be removed for the following reasons: • Petra's primary listing is on the Alternative InvestmentMarket of the London Stock Exchange ('AIM'); • Petra's Australian share register accounts forapproximately 11.9% of the total ordinary shares Petra has on issue; and • Petra's view is that the administration and related costs(including ASX reporting requirements, listing fees and associated professionaladviser fees) of maintaining a secondary listing on ASX outweigh the benefits toshareholders of the listing. ASX has advised Petra that it will be removed from the ASX official list if itcomplies with the following conditions: • Release of an announcement to the market; • Provision of this letter to shareholders on Petra'sAustralian share register ('Australian Shareholders') informing them of Petra'sintention to seek removal from the ASX official list and of a facility forAustralian Shareholders to sell their Petra shares on AIM; and • Provision of a facility for Australian Shareholders tosell their Petra shares on AIM through an ASX participating organisation for aperiod of not less than 6 months after the removal of Petra from the officiallist. Petra will be removed from the ASX official list on 7 March 2007, which is 3months after the date of this letter. Prior to 7 March 2007, trading in Petrashares will continue on an uninterrupted basis on both AIM and ASX. From 7March 2007, Petra shares will be quoted on AIM only. On 7 March 2007, Australian Shareholders will have their electronic holdings onthe ASX register (maintained on Petra's behalf by Computershare) converted tocertificated holdings on the AIM register (maintained on Petra's behalf byCapita). This process will occur automatically and no action will be requiredby any Australian Shareholder. Australian Shareholders will then be issued witha share certificate representing their total holding which should be kept in asafe place as it is evidence of the shareholding on the AIM register and will berequired to support any future transfer or sale request. Share price, trading information and company announcements can be found on theLondon Stock Exchange website (www.londonstockexchange.com) under the code "PDL"or Petra's website (www.petradiamonds.com). Alternatively, you can contact yourbroker, who will be able to provide some information. Trading on AIM prior to removal from Official List Trading on AIM is conducted through AIM designated brokers in the UnitedKingdom. Shareholders can contact one of these brokers directly.Alternatively, many Australian brokers can facilitate trading of your Petrashares on AIM through their affiliates. To assist Australian shareholders who may wish to transact Petra shares on AIMprior to Petra's removal from the official list, Petra has entered into anarrangement with Baker Young Stockbrokers Limited ('Baker Young'), which hasagreed to facilitate trading in Petra shares. Mark Potter and Caroline Sale atBaker Young can be contacted on + 61 8 8236 8888. Appended to this letter is abrief description of how you can trade your Petra shares on AIM. Trading on AIM after removal from ASX Official List Petra's arrangement with Baker Young will be open to shareholders on theAustralian share register for at least 6 months after Petra's removal from theASX official list. Petra intends to discontinue this facility in September2007. Further information, including details of your holding on AIM, will be sent toyou in March 2007. Information will also be available from Petra's website atwww.petradiamonds.com. Yours sincerely Petra Diamonds Limited How to trade Petra shares on AIM From 7 March 2007, Petra's shareholders will only be able to trade Petra shareson AIM. Broadly, shareholders will be able to trade shares in a similar manneras for ASX listed companies; that is, by liaising with their broker. Steps thatAustralian registered shareholders will need to take in order to trade Petrashares on AIM are as follows: 1. Receive a share certificate from Petra's share registrar,Capita. 2. Contact an Australian or UK broker. Many Australianbrokers are likely to have a relationship with a broker in the UK who canfacilitate trading on AIM. Australian broker Baker Young has entered into anarrangement with Petra to assist shareholders to trade their Petra shares. 3. If necessary, establish an account with a broker and followsteps outlined by them. 4. Provide the original share certificate to the broker alongwith any other documents requested by the broker. 5. Then, the broker will place the order on your behalf. Oncethe trade is effected, settlement of the trade will take place. It may take time to complete steps 3, 4 and 5 due to timing differences indealing with parties in the UK, transferring funds to the UK (if required) andinternational postage. This information is provided by RNS The company news service from the London Stock Exchange