Cancellation Of Listing Of Common Shares On The Official List Of The United Kingdom Listing Authority
02.07.2013 | Marketwire
Yamana Gold Inc. ("the Company") has requested the UK Listing Authority to cancel the listing of the Company's common shares of no par value (the "Common Shares") on the UK Official List and to cancel the admission of the Common Shares to trading on the London Stock Exchange's main market for listed securities.It is anticipated that the cancellation of the UK listing and of the admission of the Common Shares to trading on the London Stock Exchange ("LSE") will take effect at 8:00am (UK time) on 30 July 2013.
Reasons for the proposed cancellation
The board of directors ("Board") believes that the cancellation is in the best interests of the Company for the reasons set out below:
-The Common Shares have been listed on the UK Official List since 12 June 2007 and before that on AIM since 28 November 2003. However, since listing on the UK Official List, only a small amount of trading in the Common Shares has been conducted on the LSE and the Company's principal trading platforms remain the Toronto Stock Exchange and the New York Stock Exchange, where it is also listed. Accordingly, the Board considers that, relative to the high costs associated with being admitted to the UK Official List, there is no longer any significant benefit to the Company in maintaining the listing.
Listing Rule 5.2.8 allows a company with a standard listing which wishes to cancel the listing of its shares to do so by way of notifying, via a RIS, such cancellation at least 20 business days before the intended cancellation date.
Contact for queries:
Yamana Gold Inc.
Name: Sofia Tsakos, Senior Vice President, General Counsel and Corporate Secretary
Telephone: (416) 815-0220
Email: stsakos@yamana.com