Afarak to delist from Helsinki Stock Exchange
JOHANNESBURG (miningweekly.com) – Aim-listed Afarak has received a request from Kermas Resources, which holds 26.90% of the company's shares and votes, to delist from the Helsinki Stock Exchange as soon as it practically can.
According to the proposal, the company shares would only maintain a listing on the London Stock Exchange (LSE).
Kermas' proposal will be considered along with other matters in the company's extraordinary general meeting in February, Afarak said in a statement on Tuesday.
The board has found that the current dual listing is an unnecessarily expensive and resource-consuming solution relative to the company's size and market position.
“Even though the company's share is currently traded mainly on the Helsinki Stock Exchange, the LSE is the most natural place to list a global company operating in the mining and metals sector,” the statement said.
Before filing an application for delisting, the company will provide shareholders with the opportunity to sell their ownership by acquiring its own shares in a voluntary public takeover bid made to all the company's shareholders.
“The takeover bid's pricing must be based on the share's market value while taking into account the equal treatment of shareholders.”
The planned takeover bid will be launched during the first half of the year.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation