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Medusa Mining Ltd (MML)

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Monday 07 April, 2014

Medusa Mining Ltd

Further re Intended Delisting from the LSE

RNS Number : 2007E
Medusa Mining Limited
07 April 2014
 



07 April 2014

 

Medusa Mining Limited

("Medusa Mining" or the "Company")

 

Further re Intended Delisting from the LSE

 

Further to the announcement made by the Company on 4 April 2014, Medusa Mining wishes to clarify that after 23 May 2014 (the "Effective Date"), any depositary interests held on the Company's UK depositary interest register will be replaced with the equivalent number of fully paid ordinary shares in the Company and migrated to the Company's shareholder register in Australia and will be listed on the Australian Securities Exchange ("ASX").

 

After the Effective Date holders of depositary interests held on the Company's UK depositary interest register ("UK Shareholders") will no longer be able to trade their securities in the Company on the London Stock Exchange plc ("LSE"). However, the fully paid ordinary shares in the Company will remain listed on the ASX. Therefore, UK Shareholders will be able to continue to trade shares in the Company through an Australian registered broker on the ASX.

 

Until the Effective Date, the Company's securities will remain admitted to the Official List of the UKLA and admitted to trading on the Main Market of the LSE. UK Shareholders will be able to continue to deal as usual in the Company's securities on the LSE until the Effective Date.

 

The options available to UK Shareholders as a result of the Company's decision to cancel trading of its securities on the LSE are as follows:

 

1.   Take no action

 

If you do nothing, on the Effective Date any depositary interests you hold on the Company's UK depositary interest register will be immediately replaced with the equivalent number of fully paid ordinary shares in the Company and your interest in the Company will be migrated to the Company's shareholder register in Australia.


Unless you instruct an Australian registered broker to hold the fully paid ordinary shares on your behalf, they will be held under an "Issuer Sponsored" account on the Australian shareholder register of the Company under the same name as you currently hold your depositary interests in the UK.


If your shares are registered as "Issuer Sponsored" on the Australian shareholder register then you will need to engage an Australian registered broker before you can trade these shares on the ASX in the future. In other words, you will need to have your shares "Broker Sponsored" before you can trade on the ASX.


Please note that the Australian registered broker sign-on process can be a prolonged process as there are strict client identification requirements in Australia. Accordingly, it is suggested that you have your interest in the Company sponsored by an Australian registered broker as soon as possible, by either:

 

a)   contacting your own stockbroker to advise you accordingly (Item 2 below); or

b)   registering with an Australian registered broker (Item 3 below).

 

You can arrange for your interest in the Company to be sponsored by an Australian registered broker prior to or after the Effective Date.

  

2.   Have your interest in the Company sponsored by your existing stockbroker

Please contact your stockbroker directly in this regard. Not all stockbrokers are eligible to trade on the ASX, so please check this accordingly. If your stockbroker can trade on the ASX on your behalf then they will let you know if they require any further information from you. If you choose this option, it will be your responsibility to ensure all requirements and regulations are followed.

 

3.   Have your interest in the Company sponsored by an Australian registered broker

If you do not have your own stockbroker, or your stockbroker is not an Australian registered broker then you may wish to register with an Australian registered stockbroker to enable you to trade your interest in the Company on the ASX.


A complete list of Australian registered brokers can be found on the following website:
http://www.asx.com.au/resources/find-broker.htm


If you need any assistance in procuring the services of an Australian Broker please contact the office of Medusa Mining Limited on +61 8 9367 0601 during the hours of 10am to 4pm Perth time.

 

 

Further Information and Helpline Contact Details

If you have any questions in respect of the registration of your Depositary Interest in the UK or the transfer process of your interest in the Company to the Australian register, please contact the Computershare (UK) broker hotline on +44 906 999 0000.

 

If you have any other questions please contact the Company's UK broker SP Angel Corporate Finance LLP and they will try to assist you or direct you to the relevant contact. You should ask for Laura Harrison who can be contacted on +44 203 463 2279 from 9:00 am to 5:00 pm (London time) Monday to Friday.


Important Information

It is important to note that the cancellation of trading of the Company's securities on LSE may have taxation or other consequences for depositary interest holders. Accordingly you should seek your own legal, financial or professional advice from your solicitor, financial adviser or other professional adviser on how you should deal with your interest given your own personal circumstances. The Company does not and is unable to provide any legal, financial or other professional advice to you and the information contained in this announcement is general in nature only, does not take into account your personal circumstances and is not intended to constitute legal, financial or other professional advice.

 

Medusa Mining Limited is not a registered provider of financial services in Australia and does not, nor does it purport to, provide you with any financial or other professional advice. You should conduct your own inquiries and due diligence on any Australian registered stockbroker ("Broker") before engaging their services. The Company will not be a party to any engagement a Depositary Interests holder has with any Broker. Whether the terms and conditions of any engagement with a Broker are acceptable to a Depositary Interest holder will be the sole decision of the relevant Depositary Interest holder to make (in conjunction with any professional advice sought).

 

The provision of financial advice or financial services is heavily regulated in Australia under the Corporations Act 2001 (Cth). The provision of any financial advice or financial services by a Broker is done so in their own personal capacity and not on behalf of Medusa Mining.

 

Medusa Mining has no liability of any sort for the conduct or actions of any Broker. If you elect to engage a Broker, you do so entirely at your own risk.

 

 

Contact details:

Australia


Medusa Mining Limited

      +61 8 9367 0601

Peter Hepburn-Brown, Managing Director

Peter Alphonso, Company Secretary


United Kingdom


SP Angel Corporate Finance LLP

(Financial Adviser & Broker)

      +44 (0)20 3463 2260

Ewan Leggat/Laura Harrison


 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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