Platmin Limited - Cancellation of AIM listing on November 1, 2011
03.10.2011 | CNW
TORONTO, Oct. 3, 2011 - Platmin Limited announces the cancellation of the trading of its common shares on the Alternative Investment Market ('AIM') of the London Stock Exchange, to take effect from 7:00 a.m. (GMT) on Tuesday, November 1, 2011 (the 'Cancellation Date').Platmin's board of directors has decided that it is not justified for a company of Platmin's size and with such relatively low trading volumes to maintain three stock exchange listings.
Following the cancellation of the AIM listing, Platmin will be listed on the Toronto Stock Exchange ('TSX') and the Johannesburg Stock Exchange ('JSE'); as a result, shareholder consent for the cancellation of the AIM listing is not required under the AIM Rules for Companies.
Prior to November 1, 2011, shareholders may continue to trade their securities on AIM. On or after November 1, 2011, shareholders may continue to hold their securities electronically in CREST. If shareholders wish to trade their securities after November 1, 2011, their CREST nominee would need to do so on the TSX/Canada and/or JSE/South Africa. The securities may be moved from CREST to Canada by the UK nominee instructing CREST to deliver the securities to a CDS nominee (Canadian Depositary for Securities). Once shares are in CDS, they may be moved to South Africa, for trading on the JSE via a Register Removal Request instructing Computershare Canada to remove the shares from the Canadian share register onto the South African share register for re-issuance into STRATE (South African CSD).
About Platmin
Platmin explores for and develops and operates platinum group metals (PGM) deposits in South Africa. The company's principal current focus is the Pilanesberg Platinum Mine, which is building up to full production. In addition, it holds platinum interests on the eastern limb of the Bushveld Complex. Platinum's long term goal is to become a significant producer of PGMs.
CONTACT:
Charmane Russell
Russell & Associates
27 11 880 3924
27 82 372 5816
Investec Bank plc (Nominated Adviser)
Charles Batten
44 207 597 4000