Beacon Hill Resources plc Voluntary Delisting from the ASX (2946Y)
January 23 2014 - 2:00AM
UK Regulatory
TIDMBHR
RNS Number : 2946Y
Beacon Hill Resources plc
23 January 2014
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:
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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
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St Brides Media & Finance Limited (Financial
Public Relations)
Susie Geliher / Elisabeth Cowell +44 20 7236 1177
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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