/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES NOR FOR DISTRIBUTION IN THE UNITED STATES/
LONDON, Nov. 30, 2015 /CNW/ - Arian Silver Corporation (the "Company"), a silver mining company focussed on silver projects in the silver belt of Zacatecas, Mexico, announces that it has applied for voluntary delisting of the common shares of the Company ("Shares") from the TSX Venture Exchange ("TSXV"). The Shares are currently listed for trading on the TSXV and AIM.
The directors of the Company believe that the minimal trading activity of the Company's common shares on the TSXV no longer justifies the expense and administrative requirements associated with maintaining this dual listing, and that the Company's continuing AIM listing will provide its shareholders with a sufficiently liquid market upon the resumption of trading on AIM.
Subject to its application being accepted by the TSXV, it is expected that the Shares will be delisted from the TSXV at the close of trading 1 December 2015, with the Shares continuing to trade on AIM under the ticker "AGQ" upon the release of the trading suspension.
Implications of the delisting for shareholders on the Canadian register
Following delisting from the TSXV, the Company will also be closing its Canadian share register and replacing it with a new share register in the British Virgin Islands ("BVI") maintained by Computershare Investor Services (BVI) Limited (the "BVI Register").
The Company's Canadian share register will, however, remain open until 30 January 2016 in order to enable shareholders and Canadian Depository for Securities ("CDS") participants currently on the Canadian register to request, if they wish, to have depositary interests ("DIs") in respect of their holdings issued to a broker/nominee within CREST, the United Kingdom ("UK") settlement system.
The Company is incorporated in the British Virgin Islands and its Shares are quoted on AIM in London. The Company uses DIs to enable electronic transfer and settlement within CREST for trading of its Shares on AIM.
If CDS participants or shareholders on the Canadian register have not activated a DI issuance request by 30 January 2016, their holding will be automatically moved to a certificated holding on the BVI Register and they will be sent a new physical share certificate. Canadian share certificates previously issued will become null and void at such time. Following delisting from the TSXV, shareholders trading their holdings not held in the form of DIs within CREST may encounter delays or additional expense.
Shareholders whose holdings are already held within CREST in the form of DIs, or who wish to receive new share certificates from the BVI Register need not take any action.
CDS participants or those with Shares held by a broker within CDS, who wish to have DIs issued in respect of their holdings, should arrange for the CDS participant or broker to complete and submit a Computershare xSettle Electronic Instruction or a "Register Removal Request - CDS Withdrawals to UK Depositary Interests" form to Computershare Investor Services Inc. (the "Registrar") for the issue of DIs to their broker/nominee in CREST. Shareholders who hold their Shares through a Canadian broker are encouraged to contact their broker to arrange for this to happen.
Registered shareholders with share certificates who wish to have DIs issued in respect of their holdings, will need to open an account with a CREST broker/nominee and complete a "Register Removal Request - Canadian Certificate to UK Depositary Interests" form and submit it to the Registrar together with the original Canadian share certificate(s). Alternatively, Canadian share certificates can be submitted to the CREST broker/nominee for them to arrange the issuance and deposit of the DIs into CREST.
These forms are available from: https://www-us.computershare.com/Investor/help/PrintableForms.
Shareholders are encouraged to contact Computershare Investor Services Inc., the Company's Canadian share registrar for any information about the delisting process on: toll free +1 866 277 2086; (or +1 781 575 4086 if dialling from outside Canada), or on: +44 (0)370 702 0000 for shareholders in the UK.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) and no stock exchange, securities commission or other regulatory authority accepts responsibility for the adequacy or accuracy of this release nor approved or disapproved of the information contained herein.
This press release contains certain "forward-looking information". All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company as well as certain assumptions (including in particular, the acceptance of the application to delist from the TSXV, the lifting of the suspension of shares on AIM and future liquidity thereon). Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
SOURCE Arian Silver
For further information: Arian Silver Corporation, Jim Williams, CEO, David Taylor, Company Secretary, Cantor Fitzgerald Europe; Stewart Dickson / Jeremy Stephenson / David Porter / Patrick Pittaway, (London) +44 (0)20 7894 7000 OR Yellow Jersey PR Limited, Dominic Barretto, (London) +44 (0)7768 537 739, [email protected]