Perth-based gold explorer and developer Azumah Resources Limited (ASX:AZM) (TSX:AZR) advises that it has applied for the voluntary delisting of the Company’s securities from the Toronto Stock Exchange pursuant to Section 720 of the TSX Company Manual.
TSX has confirmed that Azumah’s securities will be delisted from the TSX and therefore will no longer be traded on TSX after close of business on TSX on 13th December 2013.
After delisting from the TSX, the Company’s ordinary shares will continue to trade as normal on the ASX under the existing code “AZM”.
The Company’s ASX listing and trading volume will provide shareholders with sufficient liquidity.
Reasons for delisting from TSX
The decision to delist is due to several factors including the very limited trading volume of Azumah’s shares on TSX over a sustained period plus the low and declining ownership of Azumah shares on the Canadian register.
Implications for holders on the Canadian register
In order to trade their shares on the ASX, Canadian beneficial shareholders will need to have their holdings transferred to the Australian share register.
For beneficial shareholders who hold their shares through a broker or other intermediary which is a CDS participant, the CDS participant/broker must complete and submit the “Register Removal Request – Canada to Australia” on the shareholder’s behalf.
Until a transfer to the Australian register is effected, shareholders on the Canadian register and beneficial shareholders holding their securities through a CDS participant/broker will not be able to trade their shares on ASX and their holdings will remain on the Canadian share register.
Shares held on the Canadian register which have not been transferred by 9 January 2013 will automatically be transferred to an Issuer Sponsored Holding on the Australian share register.
Questions regarding the transfer process should be directed to Azumah’s Company Secretary, Mr Dennis Wilkins on +61 8 9389 2111, or Security Transfer Registrars +61 8 9315 2333.
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