AngloGold Ashanti to voluntarily delist from Australian Securities Exchange
AngloGold Ashanti Limited has requested and received formal approval from the Australian Securities Exchange (ASX) to be removed from the official list of ASX pursuant to ASX Listing rules.
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The company expects that the delisting will occur on June 27 2023.
A release issued by the company said its CHESS Depositary Interests (CDIs) are expected to be suspended and cease to trade on the ASX at the close of trade on Friday June 23, 2023, two business days before the delisting.
Following the Delisting from the ASX, the Company’s ordinary shares (Shares) will continue to be traded in South Africa on the Johannesburg Stock Exchange (JSE), in the US on the New York Stock Exchange (NYSE) and in Ghana on the Ghana Stock Exchange (GSE).
Reasons for delisting
The company in the release said it was seeking removal from the ASX due to the ongoing low trading frequency and low volumes of its securities traded on the ASX compared to that of, in particular, the JSE and NYSE.
It noted that as of Friday May 5, 2023, the Shares represented by the CDIs held on the Australian register had declined to approximately 4.1 per cent of the company's total issued share capital, and represent less than 0.1 per cent of the year-to-date average daily trading value of the Company’s equity securities across all exchanges.
“The Company believes that the administrative and compliance obligations and costs associated with maintaining the ASX listing are no longer in the best interests of its shareholders as a whole,” the release stated.
Delisting conditions
The release further indicated that ASX had provided its approval for the Company to be removed from the official list of ASX subject to the company complying with certain conditions..
It said the company would May 15, 2023 send a letter to each CDI Holder (CDI Communication) which sets out, in a form and substance satisfactory to ASX, an overview of the delisting process, as well as a timetable and options to CDI Holders
The Company is not required to obtain security holder approval for the Delisting.
