PERTH, Western Australia, April 26, 2013 /CNW/ - Tiger Resources Limited (ASX/TSX: TGS) advises that it has applied for the voluntary delisting of its securities from the Toronto Stock Exchange (TSX). TSX has confirmed that Tiger's securities will be delisted from the TSX and therefore no longer be traded on the TSX after the close of trading on Tuesday 30 April, 2013.
No change will occur to the quotation and trading of Tiger shares under the existing code "TGS" on the Australian Securities Exchange (ASX).
Following the delisting from TSX, the Canadian share register will be closed. Further information in this regard is provided below.
Reasons for delisting
The decision to delist has been made due to the limited trading volume of Tiger's shares on the TSX over a sustained period of time and the low and declining level of ownership of Tiger shares (just over 1% presently) on the Canadian register. As such, the regulatory and other costs of maintaining the TSX listing can no longer be justified.
Implications for holders on the Canadian register
In order to trade their shares on the ASX, Canadian beneficial shareholders will need to have their holdings transferred to the Australian share register.
For beneficial shareholders who hold their shares through a broker or other intermediary which is a CDS participant, the CDS participant/broker must complete and submit the "Register Removal Request — Canada to Australia" on the shareholder's behalf.
Until a transfer to the Australian register is effected, shareholders on the Canadian register and beneficial shareholders holding their securities through a CDS participant/broker will not be able to trade their shares on ASX and their holdings will remain on the Canadian share register.
Shares held on the Canadian register which have not been transferred by 31 May 2013 will automatically be transferred to an Issuer Sponsored Holding on the Australian share register.
Questions regarding the transfer process may be directed to Computershare's Global Transaction Unit on (+1) 781 575 4086 or toll-free if calling from within Canada and the United States on (+1) 866 277 2086.
SOURCE: Tiger Resources Limited
For further information:
For further information in respect of the Company's activities, please contact:
(+61 8) 6188 2000
(+61 8) 6188 2000
(+61 0) 420 582 887
Company website: www.tigerresources.com.au