JOHANNESBURG (miningweekly.com) – Owing to protracted litigation, embattled precious metals exploration company Platfields will not pursue a reverse listing, with liquidation negotiations having been terminated.
It now expects its listing on the JSE to be terminated. Last year, another party had implemented liquidation proceedings against the miner.
Platfields was advised in October 2015 that an order for its provisional liquidation had been granted by the Gauteng High Court, with final liquidation to take place on December 14, 2016.
However, in August last year, the High Court set aside the provisional liquidation order against the company, with Platfields remaining in settlement negotiations with the company that had implemented the liquidation proceedings against.