Nautilus to cancel trading on AIM March 8
Ticker Symbol: C:NUS
Nautilus to cancel trading on AIM March 8
Nautilus Minerals Inc (C:NUS)
Shares Issued 238,097,865
Last Close 1/31/2013 $0.44
Thursday January 31 2013 - News Release
An anonymous director reports
NAUTILUS MINERALS INC.: PROPOSED CANCELLATION OF ADMISSION OF COMMON SHARES TO TRADING ON AIM
The admission of Nautilus Minerals Inc.'s common shares to trading on the Alternative Investment Market of the London Stock Exchange PLC will be cancelled with effect from March 8, 2013, at 7 a.m. (GMT). The last trading day on AIM will be March 7, 2013. The Company will continue to maintain its listing on the Toronto Stock Exchange ("TSX").
This decision to cancel has been made following a careful review of Nautilus' listing on AIM by the board of directors of the Company ("Board"). The principal reasons for the Board's decision relate to the lack of liquidity in the Company's shares on AIM and the cost of maintaining the listing on AIM. The Board considers that the costs incurred to maintain the listing of the Company's shares on AIM now exceed current and potential future benefits the Company could obtain from the listing. The Board looks forward to the continued support of its shareholders though its TSX listing.
Further information on cancellation of AIM listing and termination of DI register
Computershare Investors Services Plc, acting in its capacity as Depositary in respect of Nautilus' Depositary Interests ("DI"), which are the Company's securities listed on AIM, and each of which represents one common share), will be writing to all DI holders today to advise as to the process for the termination of DIs (see Links section below to obtain a copy of the letter to DI Holders). The termination of DIs is a separate event to the cancellation of the AIM listing. All DIs will remain valid after the cancellation of the AIM listing, up until the termination of the DI register.
In accordance with the deed constituting the DIs, DI holders will be given 90 days' notice from today of the termination of the DI register ("Notice Period"). During the Notice Period, DI holders may transfer their holding to the Canadian based depository ("Canadian Depository") operated by the Canadian Depository for Securities Limited ("CDS"). An updated holding statement of Nautilus shares will then be issued to former DI holders. Once the shares are transferred to the Canadian Depository, they will be tradable through the facilities of the TSX. This process can be completed quickly if all documents received are valid.
To transfer your holding, DI holders should contact the global transactions team for Computershare. Please e-mail !AllJEGlobalTransactionTeam@computershare.co.je or phone Suzanne Schofield on +44 1534 281869. Beneficial shareholders who hold shares with a UK Broker in CREST should contact their broker if they wish to sell/transfer their shares.
If shareholders wish to sell their DIs before the transfer to the Canadian Depository, they must do so prior to the date of termination. Once the Notice Period has expired, DI holders will automatically be transferred to the UK Branch Certificated Share Register in Jersey ("Jersey Register"). Subsequently, following the termination of the Jersey Register, former DI holders and certificated holders on the Jersey Branch Register will be transferred to the Canadian Register and a certificate of holding will be issued to the holder as recorded on the DI/Branch register.
The Company will continue to maintain its listing on the TSX and, as such, cancellation of the AIM listing is not conditional upon shareholder consent.
Timetable of EventsKey Dates Action February 1, 2013 Market announcement + letter to DI holders posted March 7, 2013 Final trading day of the Company on AIM March 8, 2013 Cancellation of AIM listing May 3, 2013 Termination of Depositary Interest register and the removal of the ISIN within the CREST Settlement System Transfer of Depositary Interest holders to the Jersey Register May 10, 2013 Expiration of Depositary Interests in CREST May 10, 2013 Migration of Jersey Register to Canadian Register