Business
(1) Inside Information and Announcement Pursuant To Rule 13.09 of the Listing Rules in Relation to Voluntary Delisting; (2) Amendments to the Articles of Continuation; and (3) Amendments to the Equity Incentive Plan
VANCOUVER, BC / ACCESSWIRE / July 28, 2022 / SouthGobi Resources Ltd. (TSX:SGQ, HK:1878) (" ...
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 Voluntary Delisting; (2) Amendments to the Articles of Continuation; and (3) Amendments to the Equity Incentive PlanVANCOUVER, BC / ACCESSWIRE / July 28, 2022 / SouthGobi Resources Ltd. (TSX:SGQ, HK:1878) (\"SouthGobi\" or the \"Company\") announces that, this announcement is made by SouthGobi Resources Ltd. (the \"Company\") pursuant to Rules 13.09 and 13.51(1) of the Rules Governing the Listing of Securities (the \"Listing Rules\") on the Hong Kong Stock Exchange, paragraph 3.42 of the Guidance Letter HKEX-GL-112-22 (the \"Guidance Letter\") and the inside information provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).1. VOLUNTARY DELISTING1.1 BackgroundReference is made to the Company's announcement dated April 21, 2022 (Hong Kong time) (\"Announcement\"). Unless otherwise specified, capitalized terms used in the Announcement shall have the same meanings when used herein.1.2 Delisting from a Recognised Stock Exchange and Receipt of the Exchange AcknowledgmentThe Company has been primarily listed on the TSX (Stock Code: SGQ) since December 2009 and secondary listed on the HKEX (Stock Code: 1878) since January 2010. In April 2022, the Company approved plans for a voluntary delisting from the TSX and listing of its shares on the TSX-V and proceeded with the relevant preparatory work and necessary procedures to complete such process. Since TSX-V is not one of the Recognised Stock Exchanges (as defined under the Listing Rules), such change in the Company's listing status from TSX to TSX-V constitutes a voluntary delisting from its Recognised Stock Exchange of primary listing (i.e. TSX) for the purpose of Rule 19C.13A of the Listing Rules. The Company has applied to the TSX for the voluntary delisting (\"Delisting\") and to the TSX-V for the listing of the Company's shares on the TSX-V. In accordance with Section 720(b) of the TSX Company Manual, the Company will not need to obtain shareholder approval as a condition of acceptance of the voluntary delisting because it will list its shares on the HKEX and TSX-V concurrent with the voluntary delisting from the TSX.As disclosed in the Announcement and the Management Proxy Circular, the Company has submitted a written notification to ...