ASX waiver in relation to quotation of CDIs

RNS Number : 3898K

Kore Potash PLC

10 April 2018

 

10 April 2018

Kore Potash Plc

("Kore Potash" or the "Company")

ASX waiver in relation to quotation of CDIs and lodgement of Appendix 3Bs

Kore Potash is pleased to announce a decision by ASX in response to the Company's application for a waiver of ASX Listing Rule 2.4 and ASX Listing Rule 2.8.

These waivers relate to the ASX quotation of CDIs on issue, as distinct from the total number of ordinary shares on issue, and the lodgement of Appendix 3Bs relating to the net change in the number of CDIs issued in the Australian market.

The decision by ASX reads as follows:

"1.    Based solely on the information provided, and in connection with the listing of Kore Potash PLC (the "Company") on the Alternative Investment Market of the London Stock Exchange, ASX Limited ("ASX") grants the Company:

1.1.         A waiver from listing rule 2.4 to the extent necessary to permit the Company to only apply for quotation of those CHESS Depositary Interests ("CDIs") issued over its fully paid ordinary shares into the Australian market.

1.2.         A waiver from listing rule 2.8 to the extent necessary to allow the Company not to apply for quotation of CDIs which are issued as a result of holders of ordinary shares in the Company converting their shares to CDIs within 10 business days of issue of those CDIs.

2.      The waivers in Resolution 1 are granted subject to the following conditions.

2.1.         The Company applies for quotation of CDIs issued into the Australian market on a monthly basis, and the Company provides to the market a monthly update of the net changes in the number of CDIs that are quoted on ASX.

2.2.         The Company immediately releases full details of these waivers to the market."

The grant of these waivers will reduce the administrative burden on the Company while ensuring that the market is updated regularly about the number of CDIs in existence.

ENDS

For further information, please visit www.korepotash.com or contact:

Kore Potash Sean Bennett - CEO		Tel: [phone]
Tavistock Communications Jos Simson Edward Lee		Tel: [phone]
Canaccord Genuity - Nomad and Broker Martin Davison James Asensio		Tel: [phone]
Fivemark Partners Michael Vaughan		Tel: [phone]

 

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