PERTH (miningweekly.com) – Gold miner OceanaGold will delist from the New Zealand Stock Exchange (NZX) in an effort to simplify its listing structure.
Trading on the NZX main board will be suspended on December 28, with OceanaGold shares only trading on the ASX and the TSX after this date.
“The decision to delist from the New Zealand stock exchange is a prudent one and does not in any way change the company’s commitment to its New Zealand business or future investments we plan on making in country,” said OceanaGold president and CEO Mick Wilkes.
“Our operations in New Zealand are an important component to our overall global business and our valued New Zealand workforce represents some of the most talented employees in the mining sector anywhere in the world. The breadth of experience we have from our New Zealand workforce has laid the foundation for the multitude of the company’s achievements technically, environmentally and socially.”
On the delisting date, shareholders on the New Zealand register will automatically be transferred to the Australian register and their shares listed on the ASX in the form of Chess depositary interest.
The delisting is expected to result in a reduction in legal and regulatory costs, while New Zealand shareholders are expected to benefit from increased liquidity of the company’s securities on the ASX, as a result of concentrating trading volumes in New Zealand and Australia on the ASX.
Edited by: Creamer Media Reporter
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