Mindoro Applies to Delist From ASX
2014年5月28日 - 7:00PM
Marketwired
Mindoro Applies to Delist From ASX
EDMONTON, ALBERTA--(Marketwired - May 28, 2014) - Mindoro
Resources Ltd. (TSX-VENTURE:MIO)(ASX:MDO)(FRANKFURT:WKN 906167)
("Mindoro", or "the Company") today advised that it has formally
applied to be removed from the official list of the Australian
Securities Exchange ("ASX") under listing rule 17.11. The ASX had
previously provided in principle advice that removal would be
granted subject to compliance with certain conditions.
The ASX conditions include the requirement to communicate to all
holders of CHESS Depositary Interests ("CDIs") advising of the date
of intended delisting and the method by which they may sell their
securities on the TSX Venture Exchange ("TSXV"), including the
steps that must be undertaken to convert their CDIs to the
underlying Mindoro shares, and steps that will be taken if they do
not convert their CDIs by a nominated date. A letter setting out
details of this information will be sent to CDI holders immediately
upon receiving formal delisting approval from the ASX.
Following delisting from the ASX, which is expected to occur on
30 June 2014, Mindoro's shares will continue to be listed on the
TSXV, where they will continue to trade during and after the
delisting process.
Decision to Delist
The Company's decision to delist is based on the low volume of
trading of its CDIs on the ASX compared to common shares on the
TSXV. During 2013, trading on the ASX represented just 6% of
Mindoro's total annual trading activity. As a result, Mindoro has
determined that sustaining the administrative and compliance costs
of the ASX listing, plus the higher level of regulatory compliance
costs associated with two listings, are no longer justifiable and,
accordingly, has sought ASX approval to delist.
Delisting Process
Following confirmation of ASX approval to delist, Mindoro will
send each CDI holder a letter which will provide an overview of the
delisting process as well as details of the following options which
will be available to CDI holders:
- Sell their CDIs on the ASX prior to close of trading on the
Suspension Date (23 June 2014);
- Convert their CDIs before the Suspension Date into
underlying Mindoro shares which may be traded on the TSXV; or
- Do nothing and have their CDIs automatically converted into
underlying Mindoro shares which may be traded on the TSXV. The
conversion will occur in a single batch on 30 June 2014.
Questions about the delisting process may be directed to Link
Market Services Limited at +61 1300 554 474.
On behalf of the Board of Directors,
Tony Climie, CEO
About Mindoro
Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange
(MIO), Australian Securities Exchange (MDO) and Frankfurt Stock
Exchange (WKN 906167). Mindoro has a 16% interest in the Agata
Mining Joint Venture and 30% interest in the Agata Processing Joint
Venture, Mindanao, with an option to acquire an additional 25% in
both projects. Mindoro also holds 75% interest in the Pan de Azucar
Sulphur-Copper-Gold Project, Iloilo. TVI Resource Development
(Phils.), Inc. ("TVIRD") has the option to earn up to a 60%
interest in Agata and Pan de Azucar projects by meeting the earn-in
requirements outlined in the June 24, 2013, press release, which
include funding the DSO operation into production and producing a
bankable feasibility study for a nickel processing facility.
Mindoro also holds 75% interest in the Tapian San Francisco
Copper-Gold Project, Mindanao.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Tony Climie P.Geol., is the CEO of Mindoro Resources Ltd and
has sufficient experience which is relevant to the style of
mineralization and type of deposit under consideration and to the
activity which he is undertaking to qualify as a qualified person
as defined by National Instrument 43-101. Tony Climie consents to
the inclusion in the report of the matters based on the information
in the form and context in which it appears.
This release may contain forward-looking statements
including management's assessments of future plans and operations,
and expectations of future production. These statements are based
on current expectations that involve a number of risks and
uncertainties, which could cause actual results to differ
materially from those anticipated. These risks include, but are not
limited to, the risks associated with the mining and exploration
industry (e.g. operational risks in development, exploration and
production; delays or changes in plans with respect to exploration
or development projects or capital expenditures; the uncertainty of
reserve estimates; the uncertainty with respect to results of
exploration, the uncertainty of estimates and projections relating
to production and the uncertainty of the availability of capital).
The assumptions used in the preparation of such statements,
although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be
placed on forward-looking statements. The Company does not
undertake to update forward-looking statements except where
required to do so by law.
For investor relations inquiries, pleaseemail ir@mindoro.com, or
telephone one of the following:Australia: Clayton Northey: +61 3
9028 8187Canada: Penny Gould: +780.719.8895, orJeanny So, CHF
Investor Relations: +1 416 868 1079 ext. 225Website:
www.mindoro.com
Mindoro Resources Ltd. (TSXV:MIO)
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