Altus Resource Capital Limited Proposed Cancellation of Listing of Ord Shares (4050Z)
10 Dezember 2014 - 3:00PM
UK Regulatory
TIDMARCL
RNS Number : 4050Z
Altus Resource Capital Limited
10 December 2014
10 December 2014
Altus Resource Capital Limited
Notification of the proposed cancellation of listing of Ordinary
Shares on the Channel Islands Securities Exchange Authority Limited
("CISEA")
Altus Resource Capital Limited (LSE:ARCL) (the "Company"), a
Guernsey registered closed-ended investment company, announcesthat
the Company intends to make an application to the CISEA for the
cancellation of the listing of its Ordinary Shares (ISIN:
GG00B54BPN15; SEDOL: B54BPN1) on the CISEA (the "Delisting").
The background to and reasons for the Delisting are set out
below.
It is expected that the Delisting will take effect at 7 a.m. on
14 January 2015.
Background to and Reasons for the Delisting
The Board has decided that the Company no longer requires the
Ordinary Shares to be listed on the CISEA for the following key
reasons:
On 30 June 2009 the Company was admitted to trading on the
Specialist Fund Market of the London Stock Exchange (the "SFM") and
on 22 December 2009, was listed and admitted to trading on the
CISEA. At the date of admission the SFM was not a recognised
exchange for ISA investors and therefore to enable ISA investors to
invest, the Company sought a dual listing on the CISEA being a
recognised exchange for ISA investors at that time. In March 2014
the Individual Savings Account Regulations 1998 were amended and
ISA investors can now invest in shares listed on the SFM, therefore
a dual listing is no longer required by the Company.
Having consulted with its advisors, the Board of the Company has
resolved to seek the cancellation of its listing on the CISEA which
will reduce the operating costs and regulatory burden to the
Company.
If you are in any doubt about your tax position following the
above action you should consult an appropriate independent
professional adviser. You should note that following the Delisting,
the Company's Ordinary Shares will no longer be quoted on the
CISEA.
For further information
Administrative Enquiries:
JTC (Guernsey) Limited
Tel: +44 (0) 1481 702 400
Shareholder Enquiries:
Nimrod Capital LLP
Tel: +44 (0) 20 7382 4565
info@nimrodcapital.com
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