Ordinary shares to continue trading on AIM
TORONTO, July 5, 2013 /CNW/ - Patagonia Gold Plc (TSX: PAT, AIM: PGD), the gold producer and advanced
mining exploration company with gold and silver projects in the
southern Patagonia region of Argentina, today announced it has provided
written notice to the Toronto Stock Exchange requesting the delisting
of its ordinary shares from the TSX.
The Company has received confirmation from the TSX that its ordinary
shares will be delisted from the TSX with effect from the close of
business on July 12, 2013.
Following the delisting from the TSX, Patagonia Gold's ordinary shares
will continue to be traded on the AIM market of the London Stock
Exchange under the trading symbol PGD.
The Directors believe the minimal trading volume of its shares on the
TSX no longer justifies the expenses and administrative efforts
associated with maintaining this dual listing. The Directors believe
that Patagonia Gold's listing on AIM provides its shareholders with
sufficient liquidity, as AIM accounts for nearly all of the Company's
current trading volume. Further, the Directors believe that
administrative and regulatory efficiencies will be achieved by focusing
on the single listing.
The Directors believe that the voluntary delisting will have no impact
on the Group's ongoing operations, nor on its ability to raise further
funds, if required, in the future to progress continued development of
the Group's projects. The Directors also believe that shareholders will
benefit from the simplified focus and lower cost resulting from the
maintenance of only the Company's original AIM listing.
About Patagonia Gold
Patagonia Gold Plc is an advanced mining exploration company that seeks
to grow shareholder value through the acquisition, exploration and
development of gold and silver projects in the southern Patagonia
region of Argentina. The Company is primarily focused on the
development of three projects: the flagship Cap-Oeste project, the
nearby COSE project and the Lomada heap leach project, which is
expected to begin generating free cash flow by 2013. Patagonia Gold,
indirectly through its subsidiaries or under option agreements, has
mineral rights to over 220 properties in several provinces of Argentina
and Chile, and is one of the largest landholders in the province of
Patagonia Gold is listed on the Toronto Stock Exchange (TSX) under the
symbol PAT and has been listed on the AIM market of the London Stock
Exchange under the symbol PGD since 2003.
SOURCE: Patagonia Gold plc
For further information:
Bill Humphries / Nigel Everest
Patagonia Gold Plc
Tel: +44 (0)20 7409 7444
Barnes Communications Inc.
Tel: +1 (416) 367-5000
Angela Hallett / James Spinney
Strand Hanson Limited
Tel: +44 (0)20 7409 3494
Mirabaud Securities LLP
Tel: +44 (0)20 7878 3360
David Bick / Mark Longson
Square 1 Consulting
+44 (0)20 7929 5599