Talvivaara Mining Company Plc: Notice Regarding Application for Delisting of Shares from the London Stock Exchange
June 13 2014 - 10:27AM
Stock Exchange
Release
Talvivaara Mining Company Plc
13 June 2014
Notice Regarding
Application for Delisting of Shares from the London Stock
Exchange
Talvivaara Mining Company Plc (the
"Company") hereby announces that the Company
has resolved at a meeting of its board of directors held today, to
request the cancellation of the premium listing of its shares of
common stock (ISIN: F10009014716, the "Shares") from the Official List of the UK Listing
Authority and the cancellation of the admission to trading of the
Shares on the Main Market of the London Stock Exchange (the
"LSE"). The details are as follows:
1. Reason
for Applying to Delist
The Company has decided to apply
for the delisting in order to reduce its costs associated with
potential material capital market transactions and other
transactions in a distressed financial situation and based on the
fact that approximately 79 per cent of the trading in the Shares
took place on the official list of NASDAQ OMX Helsinki Ltd (the
"Helsinki Stock Exchange") between 1 May 2013
and 30 April 2014. Further, the Company considers there to be no
significant benefit in maintaining the listing.
The Company does not anticipate
that such delisting will adversely affect its shareholders or other
investors, since the Shares will continue to be listed and tradable
on the official list of the Helsinki Stock Exchange.
2.
Delisting Schedule
An application has been made to
the UK Listing Authority for the Shares to be removed from the
Official List and to the LSE for their cancellation from trading.
The delisting and cancellation of trading of the Shares on the LSE
is expected on or around 14 July 2014.
The trading code of the Shares in
the Helsinki Stock Exchange is "TLV1V" and in the LSE "TALV".
Enquiries
Talvivaara Mining
Company Plc Tel +358 20 7129 800
Pekka Perä, CEO
Saila Miettinen-Lähde, Deputy CEO and CFO
Talvivaara Mining
Company Plc
Talvivaara Mining Company is an internationally significant base
metals producer with its primary focus on nickel and zinc using a
technology known as bioheapleaching to extract metals out of ore.
Bioheapleaching makes extraction of metals from low grade ore
economically viable. The Talvivaara deposits comprise one of the
largest known sulphide nickel resources in Europe. The ore body is
estimated to support anticipated production for several decades.
Talvivaara has secured a 10-year off-take agreement for 100 per
cent of its main output of nickel and cobalt to Norilsk Nickel and
entered into a long-term zinc streaming agreement with Nyrstar.
Talvivaara is listed on the London Stock Exchange Main Market and
NASDAQ OMX Helsinki. Further information can be found at
www.talvivaara.com.
Notice Regarding Application for
delisting of Shares from the LSE
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Talvivaaran Kaivososakeyhtiö Oyj via
Globenewswire
HUG#1792995
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