JOHANNESBURG (miningweekly.com) – Platinum-group metals (PGMs) junior Platmin will cancel the trading of its shares on London’s Aim market on November 1, it said on Monday.

The board said in a statement that three stock exchange listings could not be justified for a company of Platmin’s size and with such relatively low trading volumes.

Following the cancellation of the Aim listing, Platmin will be listed on the TSX and the JSE and, as a result, shareholder consent for the cancellation of the Aim listing is not required .

Before November 1, shareholders may continue to trade their securities on Aim. On November 1, or thereafter, shareholders may continue to hold their securities electronically in Crest, the central securities depository for the UK.

If shareholders wish to trade their securities after November 1, their Crest nominee would need to do so on the TSX in Canada and/or the JSE in Africa. The securities may be moved from Crest to Canada, by the UK nominee instructing Crest to deliver the securities to a Canadian Depositary for Securities (CDS) nominee.

Once shares are in a CDS, they may be moved to South Africa, for trading on the JSE through a register removal request instructing Computershare Canada to remove the shares from the Canadian share register, onto the South African share register for reissuance into Strate, the South African CSD.

Platmin explores for, develops and operates PGM deposits in South Africa. The company’s current focus is the Pilanesberg platinum mine, which is ramping up to full production. It holds platinum interests on the eastern limb of the Bushveld Complex. Platmin’s long-term goal is to become a significant producer of PGMs, the company reports.

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