Business
OceanaGold To Voluntarily Delist From ASX
BRISBANE, Australia, July 28, 2022 /CNW/ - OceanaGold Corporation (TSX: OGC) (ASX: OGC) (OceanaGold or the Company) today announces that the Company has request
About this update from Oceanagold Corporation
[{"type":"text","content":" BRISBANE, Australia, July 28, 2022 /CNW/ - OceanaGold Corporation (TSX: OGC) (ASX: OGC) (OceanaGold or the Company) today announces that the Company has requested and received formal approval from the Australian Securities Exchange (ASX) to be removed from the official list of ASX pursuant to ASX Listing Rule 17.11 (Delisting). The Company expects that the Delisting will occur on 31 August 2022. The Company's CHESS depositary interests (CDIs) will be suspended and cease to trade on ASX at the close of trade on 29 August 2022 (being two business days before the Delisting). Following the Delisting from ASX, the Company's common shares (Shares) will continue to be traded on the Toronto Stock Exchange (TSX) under the trading symbol 'OGC'. Reasons for Delisting from ASX The Company is seeking to delist from ASX due to the ongoing low trading frequency, low volumes traded and limited index inclusion of CDIs traded on ASX as compared to that of the TSX. The CDIs held on the Australian register have declined to approximately 7.5% of the Company's total issued share capital as of 30 June 2022. The Company believes that the financial, administrative and compliance obligations and costs associated with maintaining the ASX listing are no longer in the best interests of its shareholders as a whole. The delisting is also expected to lead to an increase in the Company's liquidity on the TSX. Delisting Conditions ASX has provided its approval for the Company to be removed from the official list of ASX subject to the Company complying with certain conditions. Please refer to the Appendix for the full terms of ASX's approval. The Company will today send a letter to each CDI Holder (CDI Communication) which sets out, in a form and substance satisfactory to ASX, an overview of the delisting process, as well as the following timetable and options to CDI holders. The Company is not required to obtain security holder approval for the Delisting. Indicative Timetable The proposed timetable for the Delisting is: Date and time Event 29 July 2022 Written communication is sent to CDI Holders containing details of the Delisting and information on the options available to CDI Holders. The Company suspends the ability for new CDIs to be issued.1 29 July 2022 – 29 August 2022 One month notice period of D...