Trident Royalties PLC. Admission to Trading on OTCQX in the US (3819V)
April 05 2023 - 2:00AM
UK Regulatory
TIDMTRR
RNS Number : 3819V
Trident Royalties PLC.
05 April 2023
5 April 2023
Trident Royalties Plc
("Trident" or the "Company")
Admission to Trading on OTCQX in the US
Trident Royalties Plc (AIM:TRR, OTCQX: TDTRF), the diversified
mining royalty company, is pleased to announce that its Ordinary
Shares have been approved to trade on the OTCQX Market ("OTCQX") in
the United States of America (the "US") and will commence trading
at the market open today under the ticker symbol "TDTRF".
The cross-trading of Trident's ordinary shares on the OTCQX will
provide enhanced investor benefits, including easier trading access
for investors located in the US, and greater liquidity due to a
broader geographic pool of potential investors. Through trading on
the OTCQX, the Company will be able to engage with a network of US
investors, ensuring that they have the same level of information
and disclosure available to investors in the United Kingdom, but
through U.S.-facing platforms and portals. In addition, the OTCQX
cross-trading facility will provide US based investors with the
ability to access Trident's Ordinary Shares in US dollars during US
market hours.
Adam Davidson, Chief Executive Officer of Trident commented:
"Trading on OTCQX opens Trident to a new pool of potential
investors in the US with an appetite for exposure to a diverse mix
of commodities - an offering quite different to the traditional
mining royalty companies that have dominated the North American
markets to date. This is particularly timely given the recent
developments at the Thacker Pass Lithium Project in Nevada, being a
key asset within Trident's portfolio, as well as developments at
Trident's North American gold offtake assets. The quotation
supports our vision of Trident being the leading royalty company
for global investors to obtain exposure to a diversified portfolio
of mining commodities."
About OTCQX
The ability to trade in the Company's existing Ordinary Shares
on AIM will not be affected by having the OTCQX listing and no new
Ordinary Shares have been issued. Trident will continue to make
announcements and disclosures to the London Stock Exchange through
the Regulatory News Service and has no Sarbanes-Oxley or US
Securities and Exchange Commission ("SEC") reporting requirements.
Trident's OTC Sponsor and market maker is Stifel, Nicolaus &
Company, Incorporated.
The OTCQX is recognised as an Established Public Market by the
SEC and is considered the premier tier of the OTC Market. To be
eligible, companies must be current in their financial reporting,
pass a minimum bid price test, and undergo an annual company
verification and management certification process. As a verified
market with efficient access to US investors, OTCQX supports
companies as they look to build shareholder value with a goal of
enhancing liquidity and achieving a fair valuation.
US investors can find real-time quotes and market information,
and access current company news and developments for Trident at
www.otcmarkets.com .
Trident has not made, and does not expect to make, a
determination as to whether it, or any of its subsidiaries, are
Passive Foreign Investment Companies ("PFIC") for U.S. tax purposes
for any taxable year.
** Ends **
Contact details:
Trident Royalties Plc www.tridentroyalties.com
Adam Davidson / Richard Hughes +1 (757) 208-5171 / +44 7967
589997
Grant Thornton (Nominated Adviser) www.grantthornton.co.uk
Colin Aaronson / Samantha Harrison +44 020 7383 5100
/ Samuel Littler
------------------------------
Stifel Nicolaus Europe Limited (Joint www.stifelinstitutional.com
Broker) +44 20 7710 7600
Callum Stewart / Ashton Clanfield
------------------------------
Liberum Capital Limited (Joint Broker) www.liberum.com
Scott Mathieson / Cara Murphy +44 20 3100 2184
------------------------------
Tamesis Partners LLP (Joint Broker) www.tamesispartners.com
Richard Greenfield +44 20 3882 2868
------------------------------
St Brides Partners Ltd (Financial www.stbridespartners.co.uk
PR & IR) +44 20 7236 1177
Susie Geliher / Catherine Leftley
------------------------------
About Trident
Trident is a growth-focused diversified mining royalty and
streaming company, providing investors with exposure to a mix of
base battery, precious, and bulk metals.
Key highlights of Trident's strategy include:
-- Building upon a royalty and streaming portfolio which broadly
mirrors the commodity exposure of the global mining sector
(excluding fossil fuels) with a bias towards production or
near-production assets, differentiating Trident from the
majority of peers which are exclusively, or heavily weighted,
to precious metals;
-- Acquiring royalties and streams in resource-friendly jurisdictions
worldwide, while most competitors have portfolios focused
on North and South America;
-- Targeting attractive small-to-mid size transactions which
are often ignored in a sector dominated by large players;
-- Active deal-sourcing which, in addition to writing new royalties
and streams, will focus on the acquisition of assets held
by natural sellers such as: closed-end funds, prospect generators,
junior and mid-tier miners holding royalties as non-core
assets, and counterparties seeking to monetise packages of
royalties and streams which are otherwise undervalued by
the market;
-- Maintaining a low-overhead model which is capable of supporting
a larger scale business without a commensurate increase in
operating costs; and
-- Leveraging the experience of management, the board of directors,
and Trident's adviser team, all of whom have deep industry
connections and strong transactional experience across multiple
commodities and jurisdictions.
The acquisition and aggregation of individual royalties and
streams is expected to deliver strong returns for shareholders as
assets are acquired on terms reflective of single asset risk
compared with the lower risk profile of a diversified, larger scale
portfolio. Further value is expected to be delivered by the
introduction of conservative levels of leverage through debt. Once
scale has been achieved, strong cash generation is expected to
support an attractive dividend policy, providing investors with a
desirable mix of inflation protection, growth and income.
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