Business
(1) Inside Information and Announcement Pursuant to Rule 13.09 Of the Listing Rules in Relation to Migration Exchange Notice; And (2) Update on Listing Application in Canada
VANCOUVER, BC / ACCESSWIRE / January 31, 2023 / SouthGobi Resources Ltd. (TSX:SGQ)(HK:1878) (" S...
About this update from Southgobi Resources Ltd.
[{"type":"text","content":"(1) Inside Information and Announcement Pursuant to Rule 13.09 Of the Listing Rules in Relation to Migration Exchange Notice; And (2) Update on Listing Application in CanadaVANCOUVER, BC / ACCESSWIRE / January 31, 2023 / SouthGobi Resources Ltd. (TSX:SGQ)(HK:1878) (\"SouthGobi\" or the \"Company\") This announcement is made by the Company pursuant to Rule 13.09 of the Rules Governing the Listing of Securities (\"Listing Rules\") on the Hong Kong Stock Exchange, paragraphs 3.20 and 3.42 of the Guidance Letter HKEX-GL-112-22 (\"Guidance Letter\") and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong).Reference is made to the announcements of the Company dated April 21, 2022, July 29, 2022 (\"July 29 Announcement\"), September 15, 2022, November 23, 2022, and December 30, 2022 (Hong Kong time) in respect of the Delisting from the TSX and the NEX Listing Application following which the Company will become primary listed on the Hong Kong Stock Exchange (collectively, \"Announcements\"). Unless otherwise specified, capitalized terms used in the Announcements shall have the same meanings when used herein.MIGRATION EXCHANGE NOTICE1.1 IntroductionThe Board wishes to inform the market that on January 20, 2023 (Hong Kong time), the Company received a written notice from the Hong Kong Stock Exchange (\"Migration Exchange Notice\") of its decision that the majority of trading in the Company's Shares has migrated to the Hong Kong Stock Exchange's markets (\"Migration\") on a permanent basis as more than 55% of the Company's total worldwide trading volume took place on such markets over the most recent financial year under Note 1 to Listing Rule 19C.13. Approximately 89.6% of the total worldwide trading volume, by dollar value, of the Shares over the Company's financial year ended 31 December 2022, took place on the Hong Kong Stock Exchange's markets.1.2 Migration Grace PeriodNote 2 to the Listing Rule 19C.13 provides the Company with a grace period of 12 months to comply with the applicable Listing Rules (\"Migration Grace Period\"). The Migration Grace Period will end at midnight on the first anniversary of the date of Migration Exchange Notice (\"Migration Exchange Notice Date\"). The Hong Kong Stock Exchange will regard the Company as having dual primary (rather ...