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Primero applies for voluntary ASX delisting

2nd October 2013

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

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TORONTO (miningweekly.com) – Toronto-based Primero Mining has applied to the ASX to have its listing removed from the exchange, citing the low volume of trading, when compared with the TSX and NYSE, as the main reason for doing so.

Primero said that since listing on the ASX in May, the CHESS Depositary Interests (CDIs) held on the Australian register had declined from about 14% of the company’s total issued share capital, to less than 7%, by Monday.

As a result, Primero had determined that sustaining the administrative and compliance costs of an ASX listing was not in its, and its shareholders’, best interest.

The CDIs were expected to cease trading within three months, or earlier, if the ASX consented.

The company intended to maintain its dual listings in Toronto and New York.

Edited by Creamer Media Reporter

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