Talvivaara Mining Company Plc: Notice Regarding Application for Delisting of Shares from the London Stock Exchange
13.06.2014 | Globenewswire Europe
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Talvivaara Mining Company Plc
13 June 2014
Notice Regarding Application for Delisting of Shares from the London Stock
Exchange
Talvivaara Mining Company Plc (the "Company") hereby announces that the Company
has resolved at a meeting of its board of directors held today, to request the
cancellation of the premium listing of its shares of common stock (ISIN:
F10009014716, the "Shares") from the Official List of the UK Listing Authority
and the cancellation of the admission to trading of the Shares on the Main
Market of the London Stock Exchange (the "LSE"). The details are as follows:
1. Reason for Applying to Delist
The Company has decided to apply for the delisting in order to reduce its costs
associated with potential material capital market transactions and other
transactions in a distressed financial situation and based on the fact that
approximately 79 per cent of the trading in the Shares took place on the
official list of NASDAQ OMX Helsinki Ltd (the "Helsinki Stock Exchange") between
1 May 2013 and 30 April 2014. Further, the Company considers there to be no
significant benefit in maintaining the listing.
The Company does not anticipate that such delisting will adversely affect its
shareholders or other investors, since the Shares will continue to be listed and
tradable on the official list of the Helsinki Stock Exchange.
2. Delisting Schedule
An application has been made to the UK Listing Authority for the Shares to be
removed from the Official List and to the LSE for their cancellation from
trading. The delisting and cancellation of trading of the Shares on the LSE is
expected on or around 14 July 2014.
The trading code of the Shares in the Helsinki Stock Exchange is "TLV1V" and in
the LSE "TALV".
Enquiries
Talvivaara Mining Company Plc Tel +358 20 7129 800
Pekka Perä, CEO
Saila Miettinen-Lähde, Deputy CEO and CFO
Talvivaara Mining Company Plc
Talvivaara Mining Company is an internationally significant base metals producer
with its primary focus on nickel and zinc using a technology known as
bioheapleaching to extract metals out of ore. Bioheapleaching makes extraction
of metals from low grade ore economically viable. The Talvivaara deposits
comprise one of the largest known sulphide nickel resources in Europe. The ore
body is estimated to support anticipated production for several decades.
Talvivaara has secured a 10-year off-take agreement for 100 per cent of its main
output of nickel and cobalt to Norilsk Nickel and entered into a long-term zinc
streaming agreement with Nyrstar. Talvivaara is listed on the London Stock
Exchange Main Market and NASDAQ OMX Helsinki. Further information can be found
at www.talvivaara.com.
Notice Regarding Application for delisting of Shares from the LSE:
http://hugin.info/136227/R/1792995/617202.pdf
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Source: Talvivaaran Kaivososakeyhtiö Oyj via GlobeNewswire
[HUG#1792995]