Polo Resources Limited (AIM, TSX: POL) (“Polo” or the “Company”), the natural resources investment company with interests in gold, oil and gas, coal and iron ore, today announces that it has received approval for the listing of its ordinary shares on the Bermuda Stock Exchange ("BSX"). The Company’s ordinary shares commenced trading on the BSX on 4 April 2013 under the symbol POL:BH.
Following the receipt of approval to list on the BSX, the Company has also applied for a voluntary delisting from the Toronto Stock Exchange ("TSX"). Following the listing on BSX and delisting from the TSX, Polo’s ordinary shares will be listed for trading on the AIM market of the London Stock Exchange ("AIM") and listed on the BSX.
The BSX is listed as a recognised exchange under the United Kingdom Income Tax Act, 2007 enabling Polo shares to be held by Individual Saving Accounts (“ISAs”).
Neil Herbert, Executive Co-Chairman and Managing Director, said: “We believe that the ability to hold shares through ISAs is very attractive to our many retail shareholders and that was a key factor in our decision to list on the BSX, where they can continue to do so.”
Voluntary delisting from the TSX
The Company’s board has decided that the costs of maintaining the TSX listing are not in the best interests of the Company’s shareholders. Subject to the application being accepted by the TSX, it is expected that the ordinary shares will be delisted from the TSX at the close of trading on 5 April 2013.
No change will occur to Polo’s ordinary shares on AIM, which will continue to be listed and trade as normal under the symbol “POL”. Following delisting from the TSX, the Company may apply to the applicable securities commissions in Canada for cessation of the Company’s reporting issuer status and the Canadian register will be closed.
Implications of the delisting for shareholders on the Canadian branch register only
As a consequence of the TSX delisting, and prior to the closing of the Canadian branch register, shareholders currently on the Canadian branch register can request to have their shareholdings transferred to the main register maintained by Computershare Investor Services (Jersey) Limited.
CDS participants, or if shares are held by your broker, the CDS participant/broker must complete and submit the Register Removal Request - Canada to Jersey. Registered shareholders must submit share certificates and a Register Removal Request- Canada to Jersey.
Until the removal off the Canadian register is complete, CDS participants will be unable to trade their shares on AIM and their holdings will remain on the Canadian register.
If a registered shareholder or Canadian CDS Participant on the Canadian branch register does not activate a move to the main register by 30 April 2013 (by instructing their broker to do so), their Canadian share positions will be cancelled and their Polo shares will be moved onto the main register. CDS Participants/ Shareholders whose shares are moved to the main register will be sent a share certificate, representing their shareholdings by Computershare Investor Services (Jersey) Limited.
Shareholders who hold their shares through a Canadian broker are encouraged to contact their broker. Registered shareholders on the Canadian branch register can contact Computershare, the Company's Canadian share registry for further information: The Global Transaction Unit at 1-781-575-4086 or toll free in Canada and the US at 1-866-277-2086.
For further information, please contact:
|Polo Resources Limited||+ 27 787 312 919|
Ian Burns, Finance Director
|Investec||+44 (0) 20 7597 4000|
Neil Elliot, Mark Wellesley-Wood, George Price
|Liberum Capital||+44 (0) 20 3100 2228|
Chris Bowman, Tim Graham
|Blythe Weigh Communications||+44 (0) 20 7138 3204|
Tim Blythe, Robert Kellner
|Toronto||+1 416 367 6459|
Borden Ladner Gervais LLP
Jeffery Barnes, Syed Habeeb
About the Company
Polo Resources Limited is a natural resources investment company focused on investing in undervalued companies and projects with strong fundamentals and attractive growth prospects. For complete details on Polo, refer to: www.poloresources.com.
The AIM Market of the London Stock Exchange plc does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future plans and objectives of Polo. There can be no assurance that such statements will prove to be accurate, achievable or recognizable in the near term.
Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Polo assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
The Company's exploration and investment activities may also be affected by a number of risks, including legal, political, environmental, economic, financing, permitting, commodity, exploration and development and other market risks which are normal to the industry and referenced in greater detail in the Company's 2012 Annual Report for the period ending 30 June 2012, filed on the Company’s profile on www.sedar.com.