TORONTO, ONTARIO--(Marketwired - April 22, 2015) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Marengo Mining Limited (ARBN 161 356 930) (TSX:MRN)(ASX:MMC)(POMSoX:MMC) ("Marengo" or "Company") announces that ASX Limited has approved its request for removal from the Official List of the ASX as follows:
| "DECISION |
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| 1. |
Based solely on the information provided, ASX Limited ("ASX") resolves to remove Marengo Mining Limited (the "Company") from the official list of ASX Limited ("ASX") pursuant to listing rule 17.11, on 2 June 2015 or such other date to be decided by ASX in consultation with the Company, subject to compliance with the following conditions. |
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1.1. |
The Company sends written or electronic communication to all security holders whose securities are held on the Company's Australian register, in form and substance satisfactory to ASX, setting out: |
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1.1.1. |
the nominated time and date at which the entity will be removed from the ASX official list and that: |
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(a) |
if they wish to sell their securities on ASX, they will need to do so before then; and |
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(b) |
if they don't, thereafter they will only be able to sell the underlying securities on-market on the Toronto Stock Exchange ("TSX"); |
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1.1.2. |
generally what they will need to do if they wish to sell their securities on TSX; and |
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1.1.3. |
specifically, if their securities are traded on ASX in the form of CHESS Depositary Interests ("CDIs"): |
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(a) |
the steps they must take to convert their CDIs to the underlying securities before they are able to sell them on the other exchange or exchanges where the entity is listed; and |
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(b) |
the steps that will be taken by the CHESS Depositary Nominee if they do not convert their CDIs to the underlying securities by a nominated date. |
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1.2. |
The removal shall not take place any earlier than one month after the date the information in Resolution 1.1 has been sent to security holders. |
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1.3. |
The Company releases the full terms of this decision to the market upon formal application to remove the Company from the official list of ASX. |
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| 2. |
ASX has considered listing rule 17.11 only and makes no statement as to the Company's compliance with other listing rules." |
Further details of the proposed delisting process will be mailed to holders of Marengo's CHESS Depository Interests ("CDIs") in due course. Following the expected delisting from ASX, Marengo will be removed from the official list of ASX, and Marengo securities will no longer be tradeable on ASX. The Company will continue to be listed on the Toronto Stock Exchange ("TSX") and the Port Moresby Stock Exchange ("PomSox"). Following the Company's removal from ASX, Marengo securities will only be tradeable on the TSX or the PomSox.