Australian Securities Exchange Approves Teranga Gold’s Request to Delist
August 03 2017 - 6:00PM
Teranga Gold Corporation (
"Teranga" or the
"Company") (TSX:TGZ) (ASX:TGZ) announces that the
Australian Securities Exchange (the "
ASX") has
approved its request for the removal of the Company from the
official list of the ASX ("
Official List") under
ASX Listing Rule 17.11 as follows:
“DECISION
1. |
Based solely
on the information provided, ASX Limited (“ASX”) resolves to remove
Teranga Gold Corporation (the “Company”) from the official list of
ASX Limited (“ASX”) pursuant to listing rule 17.11, on 14 September
2017 or such other date to be decided by ASX in consultation with
the Company, subject to compliance with the following
conditions: |
|
1.1. |
The Company
sends written or electronic communication to all security holders
whose securities are held on the Company’s Australian register, in
form and substance satisfactory to ASX, setting out: |
|
|
1.1.1. |
the nominated time and
date at which the entity will be removed from the ASX official list
and that; |
|
|
|
a) if they wish to sell
their securities on ASX, they will need to do so before then;
and |
|
|
|
b) if they don’t,
thereafter they will only be able to sell the underlying securities
on-market on the Toronto Stock Exchange (“TSX”); |
|
|
1.1.2. |
generally what they will
need to do if they wish to sell their securities on TSX; and |
|
|
1.1.3. |
specifically, if their
securities are traded on ASX in the form of CHESS Depositary
Interests (“CDIs”): |
|
|
|
a) the steps they must
take to convert their CDIs to the underlying securities before they
are able to sell them on the other exchange or exchanges where
the entity is listed; and |
|
|
|
b) the steps that will be
taken by the CHESS Depositary Nominee if they do not convert their
CDIs to the underlying securities by a nominated date. |
|
1.2. |
The removal
shall not take place any earlier than one month after the date the
information in Resolution 1.1 has been sent to security
holders; |
|
1.3. |
The Company
releases the full terms of this decision to the market; |
2. |
ASX has
considered listing rule 17.11 only and makes no statement as to the
Company’s compliance with other listing rules.” |
A letter was mailed to each holder of CHESS
Depositary Interests ("CDIs") which provides
specific instructions and details regarding the options available
to them relating to their CDIs under the delisting process.
The Company is currently listed on two
securities exchanges – the ASX and the Toronto Stock Exchange (the
"TSX"). Following the expected delisting from the
Official List of the ASX on September 14, 2017, Teranga will be
removed from the Official List and its CDIs will no longer be
tradeable on the ASX. The Company’s common shares
("Shares") will continue to be listed on the
TSX.
About Teranga
Teranga is a multi-jurisdictional West African
gold company focused on production and development as well as the
exploration of more than 5,000km2 of land located on prospective
gold belts. Since its initial public offering in 2010, Teranga has
produced more than 1.2 million ounces of gold from its operations
in Senegal, which as of June 30, 2017 had a reserve base of 2.7
million ounces of gold. Focused on diversification and
growth, the Company is advancing its Banfora development project
and conducting extensive exploration programs in three countries:
Senegal, Burkina Faso and Côte d’Ivoire. Teranga has a strong
balance sheet and the financial flexibility to grow its
business.
Steadfast in its commitment to set the benchmark
for responsible mining, Teranga operates in accordance with the
highest international standards and aims to act as a catalyst for
sustainable economic, environmental, and community development as
it strives to create value for all of its stakeholders. Teranga is
a member of the United Nations Global Compact and a leading member
of the multi-stakeholder group responsible for the submission of
the first Senegalese Extractive Industries Transparency Initiative
revenue report. The Company's responsibility report, is available
at www.terangagold.com/responsibilityreport and is prepared in
accordance with its commitments under the United Nations Global
Compact and in alignment with the Global Reporting Initiative
guidelines.
Contact Information
Trish Moran
Head of Investor Relations
T: +1 416-564-4290 | E: tmoran@terangagold.com