Photo by: Reuters
JOHANNESBURG (miningweekly.com) – Diamond development company Firestone Diamonds on Thursday exited trade on the Botswana Stock Exchange (BSE) after the completion of its share sale facility on March 28.
The Aim-listed group shifted its focus to its Lesotho assets after idling BK11 mine, in Botswana, and initiated the delisting on the back of the poor performance of trade on the exchange, particularly over the final six months to November last year.
Firestone said in statement that, since listing on the venture capital board of the BSE in June 2011, trading on the bourse had been negligible, with 92 828 ordinary shares having been traded on nine days in 35 separate trades.
In the six-month period preceding November, when the company decided to delist, only 1 107 shares had been traded on a single day, at a weighted average value of about 4p apiece.
Firestone was currently transferring the 19 shareholders – collectively holding 102 231 shares – opting to retain their shareholding to Firestone's Aim share register by April 11.
Thirteen shareholders with 29 769 shares of 1p each accepted the offer to sell under Firestone’s share sale facility.