Atlatsa to delist from NYSE MKT
JOHANNESBURG (miningweekly.com) – Triple-listed platinum miner Atlatsa Resources intends to voluntarily withdraw its common shares from listing on the small-cap NYSE MKT, and expects the delisting to occur in August.
The voluntary delisting formed part of Atlatsa’s ongoing cost containment measures and was intended to simplify the company’s administrative requirements and reduce listing fees and legal and administrative costs associated with the listing of its common shares on three separate stock exchanges.
In addition, Atlatsa considered the fact that the NYSE MKT listing rules with respect to the maintenance of a minimum share price could require the company to undertake certain corporate or other actions primarily to meet such requirements, which might not be in its best interest.
“Therefore, [we have] determined that the compliance obligations, costs and burdens of maintaining a listing of the common shares on the NYSE MKT outweigh the benefits at this time,” the company said in a statement.
Atlatsa’s common shares would continue to be listed on the TSX and the JSE.
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