ShalkiyaZinc N.V.
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Publicatie datum
02 aug 2013 - 07:49
Statutaire naam
ShalkiyaZinc N.V.
Titel
Proposed cancellation of listing on LSE
Bericht
PRESS ANNOUNCEMENT FOR IMMEDIATE RELEASE
2 August 2013
Proposed cancellation of listing of the ShalkiyaZinc N.V. Global Depositary Receipts to the Official List and of trading on the London Stock Exchange Main Market for listed securities
ShalkiyaZinc N.V. (the "Company" or "SKZ") announces today that the Company is seeking the cancellation of the listing of its global depositary receipts (“GDRs”) on the Official List and trading on the London Stock Exchange ("Cancellation").
In 2011, SAT & Company (“SAT”), a Kazakhstan industrial group listed on the Kazakhstan Stock Exchange, acquired a 81.39% interest in the Company. SAT has since increased its shareholding in the Company to 98.6%. Management considers that in the circumstances, the administrative burden and expense of maintaining the listing outweighs the benefits to the Company and its shareholders as a whole, and proposed at the annual general meeting of shareholders of the Company held on 10 June 2013, to seek the cancellation. The proposal was approved by shareholders.
Under the London Stock Exchange's admission and disclosure standards, the Company must advise the London Stock Exchange of the Cancellation not less than 20 Business Days before the date it intends trading in the GDRs to be discontinued. The Company will apply to the FCA and to the London Stock Exchange for cancellation of admission of the GDRs to the Official List and to trading on the London Stock Exchange. It is anticipated that the Cancellation will take effect on or around 30 August 2013.
Shareholders and prospective investors should consult their own professional advisers on whether continuing to hold GDRs following the Cancellation is suitable for them or whether the Cancellation has any tax consequences for them. If you are in any doubt as to your tax position, you should consult your own independent professional adviser.
For Further Information:
ShalkiyaZinc N.V. Tel: +7 727 259 00 60
Alken Kuanbay, Executive Director
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Datum laatste update: 13 november 2024