Solidcore Resources plc ("Solidcore" or the "Company") on 24 June 2024 has served an application to delist the Company's shares (ticker: POLY, ISIN JE00B6T5S470) from the Moscow Exchange ("MOEX"). Eligible Shareholders have the right to exchange their MOEX shares for shares traded on the Astana International Exchange (AIX), the Company's primary listing venue. In the light of the recent OFAC sanctions on the Moscow Exchange, the Board of the Company has determined its firm intent to delist the Company's shares from MOEX. The application requests that the trading in the Company's shares on MOEX will terminate on 30 September 2024. The application is subject to approval of the Moscow Exchange. The effective delisting date will be announced by the Moscow Exchange after review of the application and may differ from the above-mentioned date. "OFAC sanctions against MOEX, and associated risks of continuing listing for Solidcore, as well as severely restricted shareholder rights for the shareholders on MOEX, undermine the case for Solidcore's MOEX listing. Further, the Company does not have any Russian nexus following the sale of the Russian assets in March 2024. Therefore management and the Board have decided to immediately apply for the listing cancellation. Shareholders are able, and will continue to be able, to secure their access to trading and full shareholder rights by exchanging their shares on MOEX to shares on AIX under the ongoing exchange offer", said Vitaly Nesis, Group CEO of Solidcore Resources plc. Following the delisting, trading in the Company's shares will not be available on the Moscow Exchange. Furthermore, due to sanctions imposed against the NSD (National Settlement Depository) and other Russian depositories, shareholders whose shares were purchased on MOEX are unable to participate in the Company's corporate actions. In this regard, the Company urges shareholders to tender their Eligible Shares in consideration for the issuance of the AIX Exchange Shares, on a one-for-one basis by 30 September 2024. Participation in the Exchange Offer will allow Eligible Shareholders to trade shares through the stock exchange infrastructure and fully restore their shareholder rights. Shareholders on AIX enjoy the full range of shareholder rights and are not under any restrictions. Unless otherwise defined herein, defined terms have the same meaning as those attributed to them in the Circular: https://www.solidcore-resources.com/en/investors-and-media/shareholder-centre/general-meetings/. Further details of the Exchange Offer and answers to the frequently asked questions are available at the Company's website: https://www.solidcore-resources.com/ru/share-exchange/. For the avoidance of doubt, Solidcore confirms that this announcement does not affect the listing status of the Company's shares on AIX, which is the Company's primary listing venue. Enquiries
25/06/2024 Dissemination of a Financial Press Release, transmitted by EQS News. |
